Market Bulls Take Control as Global Market Cap Surges
The bulls are dominating today’s market session, with the global market cap experiencing a significant increase. At present, the total cap stands at $2.39 trillion, marking a 5.73% surge in the last 24 hours. Additionally, the trading volume has reached $100.12 billion, reflecting a 46% increase during the same period.
Bitcoin Price Analysis
Bitcoin (BTC) is one of the top gainers in today’s session, as its price has risen over the past 24 hours. Examining Bitcoin’s price charts, we can observe that it is testing the upper band, signaling a potential overbought condition. If the price fails to break and sustain above the upper band, a reversion to the mean (middle band) around $63,684 might occur.
On the other hand, the Woodies CCI is currently at a value of 38, indicating mild bullish momentum. However, the previous value was -159, suggesting recent bearish pressure. To confirm stronger bullish sentiment, keep an eye out for a CCI break above 100. At press time, the Bitcoin price stands at $65,237, representing a 0.5% increase from its previous 24-hour price.
Ethereum Price Analysis
Ethereum (ETH) is currently undergoing consolidation after its recent price surges, as evident from its current price movements. A detailed analysis reveals that the moving averages (lips, teeth, jaw) are intertwined, indicating a lack of a clear trend or a consolidation phase. A decisive move and separation of these lines will indicate the direction of the trend.
Meanwhile, the RSI stands at around 50.98, suggesting a neutral condition. An RSI above 70 would indicate overbought conditions, while a value below 30 would suggest oversold conditions. As of press time, the Ethereum price is at $2,944, reflecting a 1.2% decrease from its previous 24-hour price.
Fantom Price Analysis
Fantom is also among the top gainers in today’s session, with its price movements showing positive signs. Analyzing Fantom’s price charts, we can see that the price is currently above the cloud, indicating a bullish trend. Moreover, the Tenkan-sen (blue) and Kijun-sen (red) lines are also aligned bullishly.
In addition, the MACD histogram shows positive momentum, with the MACD line positioned above the signal line. This further supports the bullish trend suggested by the Ichimoku Cloud. At press time, the Fantom price stands at $0.7913, marking a 13.6% increase from its previous 24-hour price.
Jito Price Analysis
Jito (JTO) is another top gainer in today’s session, as its price movements indicate positive momentum. A thorough analysis reveals that the Supertrend indicator shows a bullish trend, with the Jito price positioned above the green line at $4.143. This trend remains valid as long as the price stays above this level.
Furthermore, the Awesome Oscillator (AO) displays positive momentum, with green bars appearing above the zero line, indicating buying pressure. As of press time, the Jito price stands at $4.66, reflecting a 16.5% increase from its previous 24-hour price.
ConstitutionalDAO Price Analysis
ConstitutionalDAO (PEOPLE) is experiencing corrections in today’s session, as its price movements suggest. A detailed analysis reveals that the ConstitutionalDAO price recently broke above the upper trend line, indicating strong bullish momentum. In case of a pullback, the price might find support at this line.
However, the RSI currently stands at 73.86, indicating overbought conditions. If the RSI remains above 70, a pullback or consolidation may be expected. At press time, the ConstitutionalDAO price is at $0.04558, marking an 8.5% decrease from its previous 24-hour price.
