The bulls have regained full control of today’s trading session, as evidenced by the decline in the global market cap. At the time of writing, the total cap stands at $3.31 trillion, reflecting a 1.61% increase over the past 24 hours. However, the trading volume has decreased by 8.8% during the same period, currently standing at $148.8 billion.
Bitcoin Price Review
Bitcoin, represented by $BTC, has experienced a significant increase in today’s session, as indicated by its price movements. A detailed analysis reveals that BTC has been testing both the upper and lower bands, suggesting high volatility. Currently, the price is trending upwards after touching the lower band, indicating a potential rebound.
On the other hand, the Relative Strength Index (RSI) sits at 63.05, indicating a slightly bullish momentum. However, it has not yet entered the overbought zone, leaving room for further upward movement. At the time of writing, Bitcoin is trading at $95,000, representing a 1.84% increase over the past 24 hours.
Ethereum Price Review
Ethereum, represented by $ETH, is also among today’s gainers, as evident from its price movements. A detailed analysis shows that the price is currently below the 50-day Moving Average (MA) but attempting to reclaim it, indicating short-term bearishness but potential recovery. Although a golden crossover (50 MA above 100/200 MAs) has occurred earlier, the price has since corrected.
On the other hand, the Volume Oscillator indicates a negative reading, suggesting a decline in trade volume, which may limit the strength of the recovery. At the time of writing, Ethereum is trading at $3,319, reflecting a 0.29% increase over the past 24 hours.
Sui Price Review
Sui, represented by $SUI, is one of today’s top gainers, as observed from its price movements. A detailed analysis reveals widening lines with the price above them, indicating a developing uptrend.
However, the Money Flow Index (MFI) is currently at 83.06, signifying that the uptrend may lose momentum soon as it enters the overbought zone. At the time of writing, Sui is trading at $5.1, reflecting a 10.90% increase over the past 24 hours.
Fantom Price Review
Fantom, represented by $FTM, is also among today’s gainers, as seen from its price movements. A detailed analysis shows that the price has broken above the cloud, which is a bullish signal. Additionally, the lagging span supports bullish momentum.
However, the Average Directional Index (ADX) is currently at 23.53, suggesting weak trend strength and indicating that the breakout may lack momentum. At the time of writing, Fantom is trading at $0.7355, reflecting a 13.01% increase over the past 24 hours.
AIOZ Network Price Review
AIOZ Network, represented by $AIOZ, is also one of today’s top gainers, as evident from its price movements. A detailed analysis reveals that the price is approaching a bearish Supertrend level, acting as immediate resistance. A clear break above $0.96 is necessary for bullish continuation.
On the other hand, the Awesome Oscillator (AO) is transitioning from red to green bars, indicating potential bullish divergence. At the time of writing, AIOZ Network is trading at $0.9565, reflecting a 5.88% increase over the past 24 hours.
