Bullish Sentiment Pushes Global Market Cap Higher
The global market cap has experienced a surge, indicating a takeover by bullish investors. At present, the total cap stands at $2.31, marking a significant 2.29% increase over the past 24 hours. Additionally, trading volume has also seen a notable uptick, rising by 9% to reach $73.5B during the same period.
Bitcoin Price Analysis
Bitcoin (BTC) is currently riding an upward trend, as evidenced by its price movements. A detailed examination reveals that the Bitcoin price is currently testing the upper Bollinger Band, suggesting the possibility of overbought conditions. If a breakout occurs above this upper band, it would indicate a continuation of the bullish trend.
Meanwhile, the Awesome Oscillator (AO) is displaying positive momentum and is on the rise, reflecting the growing bullish sentiment. The presence of green bars signifies that the bullish momentum is gaining strength. As of now, the Bitcoin price stands at $64,197, representing a 4.6% increase compared to its previous 24-hour price.
4-hour BTC/USD Chart | Source: TradingView
Ethereum Price Analysis
Ethereum (ETH) is another cryptocurrency experiencing gains in the current session as bullish investors begin to emerge. A thorough analysis reveals that the Alligator lines, consisting of the lips, teeth, and jaw, are converging, indicating a potential trend change or consolidation. A recent bullish crossover further suggests the possibility of an upward movement.
On the other hand, the MACD line is slightly below the signal line, hinting at a potential bullish crossover. The histogram displays a decrease in bearish momentum. Currently, the Ethereum price stands at $2,953, marking a 2.3% increase compared to its previous 24-hour price.
4-hour ETH/USD Chart | Source: TradingView
Floki Price Analysis
Floki (FLOKI) is also experiencing gains in the current session, as evident from its price movements. Upon analyzing Floki price charts, it becomes apparent that the price is above the cloud, signaling a bullish trend.
Furthermore, the leading span lines are widening, indicating strong bullish momentum. However, the RSI is at 78.61, suggesting overbought conditions. As a result, a potential pullback or consolidation may occur. At present, the Floki price stands at $0.0002211, representing a 12.3% increase compared to its previous 24-hour price.
4-hour FLOKI/USDT Chart | Source: TradingView
Wormhole Price Analysis
Wormhole (W) is one of the top gainers today, with its price movements confirming this upward trend. A thorough analysis indicates that the Supertrend is displaying a bearish signal, with the price currently below the red line. A break above the Supertrend line at $0.5878 would suggest a potential reversal to a bullish trend.
Meanwhile, the Awesome Oscillator (AO) is slightly negative, indicating bearish momentum. However, the histogram shows a decrease in bearish pressure, suggesting the possibility of consolidation. As of now, the Wormhole price stands at $0.5518, marking a 5.56% increase compared to its previous 24-hour price.
4-hour W/USDT Chart | Source: TradingView
THORChain Price Analysis
THORChain (RUNE) is yet another cryptocurrency experiencing gains in the current session, as indicated by its price movements. Upon analyzing THORChain price charts, it becomes apparent that the price has recently rebounded off the lower boundary of the pitchfork channel. The upward movement within the pitchfork indicates the potential for bullish continuation.
On the other hand, the Money Flow Index (MFI) is at 60.96, pointing to moderate buying pressure. The recent increase in MFI suggests accumulation by buyers. At present, the THORChain price stands at $5.88, representing a 7.6% increase compared to its previous 24-hour price.
4-hour RUNE/USDT Chart | Source: TradingView
