Today’s market session has seen bulls reclaim dominance as seen from the rise in the global market cap. The total cap stood at $2.29T as of press time, representing a 1.12% increase over the last 24 hours. On the other hand, the trading volume is 96% up over the same period to stand at $68.86B.
Bitcoin Price Review
Bitcoin (BTC) is now consolidating around $62K after yesterday’s pump, evidenced by its price movements. Analysing Bitcoin price charts, we see that The Bollinger Bands indicate that Bitcoin has been fluctuating within a relatively tight range, showing a lack of strong directional movement in recent sessions. The recent trading sessions show the price oscillating around the middle SMA, suggesting a balanced battle between buyers and sellers.
On the flip side, the MACD line is below the signal line and close to zero, indicating weak bearish momentum. The histogram also shows diminishing bearish strength, suggesting a potential stabilization or reversal in the short term. As of press time, the Bitcoin price stood at $62,044, a 1.04% increase from its previous 24-hour price.
4-hour BTC/USD Chart | Source: TradingView Ethereum Price Review
Ethereum (ETH) is also consolidating near $3k as seen from its movements in today’s session. Looking at an in-depth analysis, we see that Ethereum’s chart displays a Supertrend indicator above the Ethereum price, signalling a bearish trend.
On the other hand, analysing other indicators, we see the AO indicator shows negative momentum after a failed breakout to the positive side, supporting the bearish sentiment observed in the price movement. As of press time, the Ethereum price stood at $2,915, a 0.02% decrease from its previous 24-hour price.
4-hour ETH/USD Chart | Source: TradingView NEAR Protocol Price Review
NEAR Protocol (NEAR) is among the top gainers in today’s session as seen from its price movements. Analysing NEAR Protocol price charts, we see that The Alligator indicator (composed of three SMAs) suggests a lack of clear trend as the lines are intertwined, indicating a consolidation phase. The recent price action has shown some resilience, bouncing from lower levels but still within a sideways movement pattern.
On the other hand, the Money Flow Index (MFI) indicator is nearing the midpoint (around 57), suggesting a balance between buying and selling pressures. As of press time, the NEAR Protocol price stood at $7.23, a 6.2% increase from its previous 24-hour price.
4-hour NEAR/USDT Chart | Source: TradingView Render Token Price Review
Reneder (RNDR) is also among the gainers in today’s session as evidenced by its movements in today’s session. Looking at an in-depth analysis, we see that the Ichimoku Cloud provides a mixed view; while the price is currently above the cloud suggesting bullishness, the recent movement is within the cloud which can indicate uncertainty or a potential trend reversal.
On the other hand, the ADX indicator is at 22.33, indicating a weak trend. The price movement needs more definitive strength to confirm a strong trend direction. As of press time, the Render price stood at $11.03, a 4.9% increase from its previous 24-hour price.
4-hour RNDR/USDT Chart | Source: TradingView Pepe Price Review
Pepe (PEPE) is also another gainer in today’s session as seen from its price movements in today’s session. Analysing Pepe price charts, we see the Auto Pitchfork shows a breakout above the median line, which might suggest bullish momentum if the price sustains above these levels.
On the other hand, looking at the Money Flow Index (MFI), we see that it is very high at 85.93, suggesting overbought conditions which could lead to a potential price pullback if buyers begin to take profits. As of press time, the Pepe price stood at $0.00001025, a 20.39% increase from its previous 24-hour price.
4-hour PEPE/USDT Chart | Source: TradingView
