Daily Market Review: BTC, ETH, AKT, RNDR, DOGE

Bulls are still in today’s session, as seen in the global market cap’s increase. As of press time, the total cap stood at $2.35T, representing a 2.78% increase in the last 24 hours, while the trading volume dropped by 4.5% during the same period to $68.7B. 

Bitcoin Price Review

Bitcoin (BTC) is a slight gainer in today’s session, as the crypto king posted a remarkable session. An in-depth analysis shows that the Bitcoin price is above the 50-period simple moving average (SMA) of $61,244.81, indicating an uptrend in the short term. The Bollinger Bands are beginning to widen, suggesting increasing volatility.

On the other hand, the Awesome Oscillator (AO) shows positive values indicating bullish momentum. As of press time, the Bitcoin price stood at $63,408, representing a 6.02% jump from its previous 24-hour price.

Ethereum Price Review

However, Ethereum (ETH) has been facing consolidation since the recent pump, as evidenced by its price movements. An in-depth analysis shows that the Ethereum price fluctuates around the Alligator indicator lines, showing some consolidation. The proximity of the lines suggests a need for a clear trend.

On the other hand, the Average Directional Index (ADX) reading of 22.85 suggests a weak trend. As of press time, the Ethereum price stood at $3,091, representing a 0.82% drop from its previous 24-hour price.

Akash Network Price Review

Akash Network (AKT) is today’s top gainer, as seen from its price increases. An in-depth analysis shows that Price is below the Supertrend line indicating a potential downtrend or resistance level. However, a recent positive crossover in the Supertrend may suggest the potential for reversal.

On the other hand,  the Commodity Channel Index (CCI) value suggests the price is nearing overbought territory but remains below the extreme threshold. As of press time, the Akash Network price stood at $4.81, representing a 10% pump from its previous 24-hour price.

Render Price Review

Render (RNDR) was another gainer in today’s session, evidenced by its price movements. An in-depth analysis shows that Render’s price is above the Ichimoku cloud, indicating a bullish trend.

Looking at other indicators, we see that the Render price is above the green Ichimoku cloud, supporting a bullish outlook. The lagging span is also above the Render price and the cloud, confirming the bullish sentiment. As of press time, the Render price stood at $9.22, representing a 10.05% pump from its previous 24-hour price.

Dogecoin Price Review

Dogecoin (DOGE) is another gainer amid the X payments integration in today’s session. An in-depth analysis shows that the Dogecoin price follows an upward channel, indicating a bullish trend. It has now crossed on the upper side of the pitchfork, indicating strong bullish momentum.

Looking at other indicators, we see the Money Flow Index (MFI): A reading of 74.51 indicates intense buying pressure but also nears overbought conditions, which could hint at a potential pullback or consolidation soon. As of press time, the Dogecoin price stood at $0.1602, representing a 6.68% pump from its previous 24-hour price.