Bulls continue to dominate the current trading session, with the global market cap on the rise. The total cap has reached $2.63 trillion, showing a 0.2% increase in the last 24 hours.
Bitcoin Price Analysis
Bitcoin (BTC) is currently undergoing consolidation, leading to a decrease in its price. A closer look reveals that the Bitcoin price is retracing towards the middle Bollinger Band, hovering around $70,068.
Furthermore, the Awesome Oscillator (AO) indicates a shift from positive to negative momentum, with growing red histogram bars suggesting a potential downward correction or consolidation. At present, the Bitcoin price is at $71,511, marking a 1.21% increase from its previous 24-hour price.
Ethereum Price Update
Ethereum (ETH) is also experiencing gains in today’s session, with its price showing upward movements. A detailed analysis shows significant bullish momentum for Ethereum, with the price stabilizing above the Alligator indicator, indicating a strong upward trend.
However, the Money Flow Index (MFI) nearing the overbought territory at 70.97 may lead to resistance or a possible pullback as traders take profits. Currently, the Ethereum price stands at $3,845, reflecting a 1% increase from its previous 24-hour price.
Mantle Price Movement
Mantle (MNT) is among the top gainers today, with its price showing positive movements. Analysis of Mantle price charts reveals a sharp increase above the SuperTrend indicator, which has turned green, signaling a bullish reversal.
Moreover, the ADX, at 32.50, indicates a strong current trend. The Mantle price is currently at $1.04, showing a 6.8% increase from its previous 24-hour price.
Stacks Price Trend
Stacks (STX) is also among the top gainers in today’s session, with its price reflecting positive movements. An in-depth analysis shows a bullish scenario for Stacks, as the price recently broke above the Ichimoku cloud, suggesting a potential bullish reversal or continuation of the trend.
Although the CCI is in the overbought zone, hinting at a possible short-term pullback, the strong momentum may push the price higher before any significant retracement. Currently, the Stacks price is at $2.39, showing a 5.88% increase from its previous 24-hour price.
Pyth Network Price Update
Pyth Network (PYTH) is also among the top gainers today, with its price movements indicating positive trends. A closer look at the Pyth chart reveals an interesting technical pattern, with the Auto Pitchfork tool signaling a bullish breakout from a converging pattern, potentially starting a new bullish trend.
Moreover, the ADX, at 36.34, supports the strength of this new trend, pointing towards a robust bullish phase. The Pyth Network price is currently at $0.4755, showing a 2.29% increase from its previous 24-hour price.
