Market Update: Bulls Gain Momentum as Global Market Cap Rises
In today’s market session, bulls are taking charge, leading to an increase in the global market cap. At present, the total market cap stands at $2.26T reflecting a 1% growth over the last 24 hours.
Bitcoin Price Analysis
(BTC) is one of the beneficiaries of today’s session as its price rises. However a closer examination reveals that BTC has been experiencing a downward trend characterized by lower highs and lows within the Bollinger Bands.
Recently, there was a bullish move BTC breaking above the middle Bollinger Band (20-period SMA), which could signal a reversal or retracement. Despite this bullish candle, the ADX stands at 3912, indicating a strong downward trend. The current trading price for Bitcoin is $61,, representing a 0.78% increase over the last 24 hours.
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4-hour BTC/USD Chart | Source: TradingView
Ethereum Price
Ethereum (ETH) also registers gains in today’s session as its price moves. A detailed analysis shows that ETH is currently in a downtrend with its price below Ichimoku Cloud—suggesting bearish momentum. Notably, ETH has been testing at the bottom of the cloud; however, if it manages to sustain movement above it we may witness an in this bearish outlook.
Furthermore, Ethereum’s MFIMoney Flow Index) hovers around 45.06—a sign of neutral momentum without being oversold or overbought. As of now,
ETH trades at $,385—an increase of 0.33% within the last 24 hours.
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4-hour ETH/USD Chart | Source: TradingView
Notcoin Price Review
Notcoin (NOT) emerges as one of today’s gainers based on its price movements.
An in-depth analysis reveals that Notcoin consolidation after an earlier uptrend.
The crossing lines on Alligator indicate no clear trend and suggest that the market has entered an equilibrium phase.
Additionally,
the AO (Awesome Oscillator) displays red bars—indicating declining momentum.
Currently,
Notcoin trades at $0.01614—a significant surge of
12.% within
the past day.
4-hour NOT/DT Chart | Source TradingView
Ethereum Name Service Review
Ethereum Name Service (ENS)
also gains during today’s session.
Upon further analysis,
it appears that ENS prices oscillate around
the Ichimoku Cloud—indicating uncertainty regarding market direction.
Moreover,
Woodies CCI hovers near zero—signifying weak momentum.
A breakout above or below
the cloud could determine bullish or bearish trends respectively.
Presently,
ENS is traded at $25.,43—an increase of %9.% within
a span
of hours.
