Daily Market Review: BTC, ETH, AR, BONK, PEPE
Bulls have regained control of markets in today’s session as evidenced by the jump in the global market cap. The total cap stood at $2.2T as of press time, representing a 2.13% increase over the last 24 hours while the trading volume dropped by 9% during the same period to stand at $90.3B.
Bitcoin Price Review
Bitcoin (BTC) is also a gainer in today’s session, as evidenced by its price movements. However, an in-depth analysis shows that Bitcoin is on a downward trend, as indicated by the price consistently trading below the Bollinger Band middle line. The recent candles show a minor recovery, but still within a bearish context.
On the other hand, the MACD is below the signal line and the zero line, which typically indicates bearish momentum. However, the histogram shows reducing negative values, hinting at a potential weakening in downward momentum. As of press time, the Bitcoin price stood at $59,379, representing a 2.9% jump from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) is another gainer in today’s session as seen from its price movements. Analysing Ethereum price charts, we see that Ethereum is also in a downtrend with recent price action struggling below a bearish Super Trend indicator.
On the flip side, the MACD is below its signal line but close to crossing above, which could indicate a potential reversal or reduction in selling pressure. As of press time, the Ethereum price stood at $2,998, representing a 2.9% jump from its previous 24-hour price.
Arweave Price Review
Arweave (AR) is also another gainer in today’s session as evidenced by its price movements in today’s session. Looking at in-depth analysis, we see that Arweave displays more volatility with multiple crossing points of the Alligator’s jaws, suggesting phases of equilibrium where buyers and sellers are in balance.
On the other hand, the Awesome Oscillator shows green bars increasing in height, indicating growing bullish momentum. As of press time, the Arweave price stood at $34.66, representing an 18.8% jump from its previous 24-hour price.
Bonk Price Review
Bonk (BONK) is also another gainer in today’s session as evidenced by its price movements. Analyzing the meme coin in-depth, we see the Bonk price is currently trading above the Ichimoku cloud, which is typically a bullish signal. However, the recent flattening of the cloud suggests uncertainty about future price direction.
On the other hand, the RSI is near the upper boundary of 70, which often signifies overbought conditions and could precede a price pullback. As of press time, the Bonk price stood at $0.00002563, representing a 14.16% jump from its previous 24-hour price.
Pepe Price Review
Pepe (PEPE) is another member in today’s session, as seen from its price movements today. Looking at Pepe price charts, we see that the Pepe price is ascending within the upward channel defined by Auto Pitchfork, indicating a sustained uptrend.
On the other hand, gauging trends, the ADX is above 20 but not excessively high, suggesting that the trend is firm but not overheated. As of press time, the Pepe price stood at $0.000007777, representing a 12.53% jump from its previous 24-hour price.
