Today’s market session has witnessed a resurgence of bullish sentiment, reflected in the global market cap’s ascent. At present, the total market cap stands at $2.08 trillion, marking a robust 5.18% increase over the past 24 hours. Concurrently, trading volume has decreased to $89.3 billion during the same period, reflecting a decline of 26.77%.
Bitcoin Price Analysis
Bitcoin (BTC) has emerged as a frontrunner in today’s trading session. Detailed scrutiny reveals Bitcoin’s price trajectory trending towards the upper band, hinting at a potential reversal from its previous downtrend. The narrowing of these bands indicates reduced volatility, with the price comfortably exceeding the 20-day Simple Moving Average (SMA), signaling bullish sentiment. Should this momentum hold, it could signify a shift towards an upward trend. As of the latest update, Bitcoin is trading at $57,834, marking a 2% increase over the past 24 hours.
4-hour BTC/USD Chart | Source: TradingView
Ethereum Price Analysis
Ethereum (ETH) has also posted gains in today’s session, evident from its recent price movements. A detailed analysis reveals the Alligator indicator lines beginning to converge following a downtrend, potentially indicating a reversal if the price surpasses the “teeth” (red line). Additionally, the AO histogram bars are turning green and increasing in size, indicating a growing bullish momentum that aligns with the Alligator’s signal. Ethereum is currently priced at $3,053, reflecting a 1.96% increase in the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView
Core DAO Price Analysis
Core DAO (CORE) stands out as today’s top gainer in the market. Detailed analysis suggests that Core DAO’s price has breached the supertrend resistance level, signaling a strong buy sentiment and potentially shifting the prevailing bearish trend to a bullish one. Moreover, the Woodies CCI has surged above 100, underscoring robust bullish momentum. At present, Core DAO is trading at $1.09, marking a notable 23.46% increase over the past 24 hours.
4-hour CORE/USDT Chart | Source: TradingView
JasmyCoin Price Analysis
JasmyCoin (JASMY) has also seen substantial gains today. Analysis indicates that JasmyCoin’s price is approaching resistance within the cloud, with a potential bullish reversal upon breaking through. Furthermore, convergence of the leading span A and B lines suggests a possible end to the ongoing downtrend. However, the volume oscillator indicates a slight negative value, suggesting recent price increases occurred at lower volumes, possibly indicating weaker bullish momentum. JasmyCoin is currently trading at $0.02461, reflecting a 23.46% increase in the last 24 hours.
4-hour JASMY/USDT Chart | Source: TradingView
Shiba Inu Price Analysis
Shiba Inu (SHIB) has also demonstrated significant gains today. Detailed analysis reveals Shiba Inu’s price breaking above the upper line of the pitchfork, signaling a bullish trend with potential for further upward movement. The ADX indicator supports this, showing a strong trend with a value above 25, affirming the bullish breakout observed in the pitchfork analysis. Shiba Inu is currently trading at $0.00001692, reflecting a notable 16.19% increase over the past 24 hours.
4-hour SHIB/USD Chart | Source: TradingView