Bears continue to show dominance in today’s session as seen from the drop in the global market cap. The total cap stood at $2.32T as of press time, representing a 3.73% decrease over the last 24 hours. On the other hand, the trading volume stood at $99.08B as of the same period, representing a 38%.
Bitcoin Price Review
Bitcoin (BTC) is a gainer in today’s session despite the bear wave, as evidenced by its price movements. Looking at an in-depth analysis, we see that the Supertrend indicator is currently red, signaling a bearish trend. The Bitcoion price is attempting to break above the Supertrend resistance line around $66,270.58.
On the other hand, the Average Directional Index is at 25.31, suggesting a weak trend. An ADX above 25 typically indicates a stronger trend, so traders should watch for any increase in the ADX to confirm trend strength. As of press time, Bitcoin was trading at $65,549, representing a 0.06% increase over the the last 24 hours.
4-hour BTC/USD Chart | Source: TradingView Ethereum Price Review
Ethereum (ETH) is also among the gainers in today’s session, also evidenced by its price movements. Looking at an in-dpeth analysis, we see that the Ethereum price is bouncing off the lower Bollinger Band, indicating a possible short-term bullish reversal. The 20 SMA is above the current price, suggesting a bearish trend in the medium term.
On the other hand, looking at the Awesome Oscillator (AO), we see that the AO is below zero but showing a decrease in bearish momentum. A cross above the zero line could signal a bullish trend. As of press time, Ethereum was trading at $3,560, representing a 3.5% increase over the the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView Lido DAO Price Review
Lido DAO (LDO) is among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Alligator’s lines are converging, indicating a lack of a strong trend and potential consolidation. A crossover of the green line above the red line may suggest a bullish trend is forming.
On the other hand, the Awesome Oscillator (AO) has crossed above zero, indicating a bullish trend. Sustained positive momentum could lead to further price increases. As of press time, Lido DAO was trading at $2.37, representing a 19.3% increase over the the last 24 hours.
4-hour LDO/USD Chart | Source: TradingView Ethereum Name Service
Ethereum Name Service (ENS) is also another gainer in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Ethereum Name Service price has broken above the Ichimoku cloud, indicating a bullish trend. The cloud ahead is turning green, suggesting potential continued bullish sentiment.
On the other hand, we see thet the MACD (Moving Average Convergence Divergence) line is above the signal line, reinforcing the bullish trend. The positive histogram bars indicate bullish momentum. As of press time, Ethereum Name Service was trading at $26.57, representing a 16.68% increase over the the last 24 hours.
4-hour ENS/USD Chart | Source: TradingView Maker Price Review
Maker (MKR) is also a againer in today’s session as evdienced by its price movements. Looking at an in-depth analysis, we see that the Maker price is approaching the upper boundary of the pitchfork, indicating potential resistance. A breakout above this boundary could suggest further bullish movement.
On the other hand, the Volume Oscillator is at 14.59%, indicating moderate trading volume.
An increase in volume could confirm a breakout. As of press time, Maker price was trading at $2,488.94, representing a 12.99% increase over the the last 24 hours.
4-hour MKR/USD Chart | Source: TradingView
