Bulls Gain Control in Market Session as Global Market Cap Rises
The bulls have taken control in today’s market session, as indicated by the surge in the global market cap. At the time of writing, the total cap reached $2.57 trillion, marking a 2.27% increase in the last 24 hours. Additionally, the trading volume rose to $70.3 billion, reflecting a significant 52.4% increase during the same period.
Bitcoin Price Analysis
Bitcoin (BTC) also experienced gains in today’s session, evident from its price movements. A detailed analysis reveals that the Bitcoin price is currently consolidating, with the bands gradually converging, indicating reduced volatility. The price has been fluctuating between the upper and middle bands, suggesting some bullish sentiment but a lack of strong momentum.
On the other hand, the ADX line shows a value below 20, indicating a weaker trend strength. This implies that the current price movement lacks a clear directional momentum. As of now, the Bitcoin price stands at $69,091, representing a 0.6% increase in value over the last 24 hours.
Ethereum Price Analysis
Ethereum (ETH) is also among the gainers in today’s session. A thorough analysis reveals that the Ethereum price is currently above the cloud, which typically signals a bullish trend continuation. However, recent candles are forming near the top of the cloud, suggesting potential resistance or consolidation.
Meanwhile, the Woodies CCI hovers around the zero line, indicating that the Ethereum price is in relative equilibrium without significant momentum deviating from the usual price range. At present, the Ethereum price stands at $69,091, reflecting a 0.6% increase in value over the last 24 hours.
Chilliz Price Analysis
Chilliz (CHZ) is another cryptocurrency experiencing gains in today’s session, as observed from its price movements. The supertrend indicator has recently turned green, indicating a bullish signal. This suggests the possibility of an upward movement if the price remains above the supertrend line.
Furthermore, the Volume Oscillator shows increased volume, signifying greater buying interest that can support the ongoing uptrend. The current Chilliz price stands at $0.1384, representing a notable 16.17% increase in value over the last 24 hours.
Core DAO Price Analysis
Core DAO (CORE) also witnessed gains in today’s session, with its price on the rise. A detailed analysis reveals that the alligator’s lines are intertwined, and the price action is close to these lines, suggesting a potential consolidation phase or a lack of a strong trend.
Moreover, the Awesome Oscillator (AO) is transitioning from red to green bars, indicating a shift towards bullish momentum. However, the market is still deliberating on a clear direction. At present, the Core DAO price stands at $2.20, reflecting a 10.4% increase in value over the last 24 hours.
Dogwifhat Price Analysis
Dogwifhat (WIF) also joins the gainers in today’s session, as evident from its price movements. A closer analysis reveals that the Dogwifhat price is currently in the upper range of the pitchfork, indicating some bullish momentum. However, resistance near the upper line of the pitchfork could result in consolidation or a reversal.
Additionally, the Awesome Oscillator (AO) displays green bars, suggesting an increase in bullish momentum. Nonetheless, careful observation is necessary to confirm if this trend will be sustained. As of now, the Dogwifhat price stands at $3.10, reflecting a 7.8% increase in value over the last 24 hours.