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Thursday, July 25, 2024
EthereumBTC ETH NOT CORE AKT A Daily Overview of the Market

BTC ETH NOT CORE AKT A Daily Overview of the Market

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The current market session remains favorable for bulls, as evidenced by the decrease in global market capitalization. At press time, the total market cap stood at $2.31 trillion, showing a 2.3% surge in the last 24 hours. However, the trading volume during the same period decreased by 58% to $58.02 billion.

Bitcoin (BTC) is experiencing gains in today’s session, as indicated by its price movements. A detailed analysis reveals that the price of Bitcoin has fallen below the lower Bollinger Band, signaling increased volatility and the potential for further decline. The widening of the bands suggests that this volatility may persist.

Furthermore, the Awesome Oscillator is currently below the zero line, with red bars indicating a bearish momentum. This aligns with the observed bearish trend in the price action. At press time, Bitcoin is trading at $57,772, reflecting a 2.33% increase in the last 24 hours.

Ethereum (ETH) is also gaining ground in today’s session, as evident from its price movements. A comprehensive analysis shows that the Alligator lines are intertwined, indicating a lack of a clear trend. This typically suggests a consolidation phase or the beginning of a new trend.

Moreover, the Money Flow Index is around the 50 level, suggesting neutral momentum. It is neither overbought nor oversold. As of press time, Ethereum is trading at $3,034, representing a 1.9% increase in the last 24 hours.

Notcoin (NOT) stands out as one of today’s top gainers, based on its price movements. A detailed analysis reveals that the price of Notcoin is below the cloud, indicating a bearish trend. The red cloud suggests that this bearish pressure may persist.

However, the Money Flow Index is around the 25 level, approaching oversold territory. This suggests the potential for a short-term bounce. At press time, Notcoin is trading at $0.01471, reflecting a 45.12% increase in the last 24 hours.

Core DAO (DAO) is another cryptocurrency experiencing gains in today’s session. However, a detailed analysis shows that the Core DAO price is in a downtrend, with consistently lower highs and lows.

Additionally, the Supertrend indicator shows a sell signal (red), indicating a bearish trend. At press time, Core DAO is trading at $1.04, reflecting a 15.3% increase in the last 24 hours.

Akash Network (AKT) is also seeing gains in today’s session, as evident from its price movements. A detailed analysis reveals that the triple bottom pattern is a bullish reversal pattern. If the price breaks above the neckline, it could confirm the pattern and signal a new uptrend.

Furthermore, the Average Directional Index is around 28.65, indicating a relatively strong trend, although it does not specify the direction. At press time, Akash Network is trading at $3.82, reflecting an 11.17% increase in the last 24 hours.

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