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The bulls are gaining in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $1.97T as of press time, representing a 5% increase over the last 24 hours, while the trading volume jumped by 35.9% over the same period to stand at $195.3B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has pumped massivelyy in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is moving within the lower half of the Bollinger Bands, indicating a bearish trend. The bands are widening, suggesting increased volatility.
On the other hand, we see that the ADX value is 53.61, indicating a strong trend. Since the trend has been downward, this points to strong bearish momentum. Bitcoin traded at $55,985 as of press time, representing a 10.39% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has also seen a tremendous surge in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Ethereum price is in a downtrend but shows signs of consolidation and potential reversal after reaching a low around $2,500. The lines are wide apart, indicating a strong trend. The price is attempting to cross above the Lips (green line), suggesting a possible trend change.
On the other hand, we see that the ADX value is 56.85, signifying a strong trend. Given the recent downtrend, this reflects strong bearish momentum but a potential reversal is indicated by the Alligator lines converging. Ethereum traded at $2,527 as of press time, representing a 15.33% increase over the last 24 hours.
BitTorrent Price Review
BitTorrent, $BTT, is also among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the BitTorrent price has been in a downtrend but has recently shown a strong upward movement. The indicator is bearish (red line above the price), but the price is approaching the Supertrend line, which could signal a reversal if the price crosses above it.
On the other hand, we see that the Volume Oscillator is negative at -23.60%, indicating decreasing volume during the recent upward move, which may question the strength of this move. BitTorrent traded at $0.067276 as of press time, representing a 11.55% increase over the last 24 hours.
Akash Network Price Review
Aksh Network, $AKT, is also among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, the Akash Network price has been in a downtrend but is currently experiencing a strong upward move. The price has crossed above the Tenkan-sen and Kijun-sen lines, indicating a potential bullish reversal. The Lagging Span is yet to confirm this move.
On the other hand, we see that the MFI is at 53.80, suggesting moderate buying pressure. It’s neither overbought nor oversold. Akash Network traded at $2.68 as of press time, representing a 42.81% increase over the last 24 hours.
Brett Price Review
Brett, $BRETT, is also among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, the Brett price has been in a downtrend but has recently rebounded. The Brett price is approaching the middle line of the Pitchfork channel, which could act as resistance.
On the other hand, we see that the Woodies CCI is positive at 129.87, suggesting strong bullish momentum. Brett traded at $0.0974 as of press time, representing a 43.7% increase over the last 24 hours.
