Daily Market Review: BTC, ETH, TON, SOL, DOGE
Bulls and bears are still struggling to dominate the market, as seen from the slight change in the global market cap. The total cap stood at $2.25T as of press time, representing a 0.12% drop over the last 24 hours. On the other hand, the trading volume has jumped by 27% over the same period to stand at $46.7B.
Bitcoin Price Review
Bitcoin (BTC) is among the gainers today, showing a slight recovery to reclaim the $63K mark. Looking at an in-depth analysis, we see that Bitcoin price charts show a falling wedge pattern, which is typically considered a bullish reversal pattern. This is confirmed as the price has broken out of the upper resistance line of the wedge.
On the other hand, the Money Flow Index (MFI) is approaching overbought territory, suggesting buying pressure. As of press time, the Bitcoin price stood at $62,975, a 2.4% increase 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’s price is currently rebounding off the lower Bollinger Band, suggesting a potential upward correction towards the middle or upper band.
On the other hand, the Awesome Oscillator is showing increasing green bars, signaling rising bullish momentum. As of press time, the Ethereum price stood at $2,955, a 0.36% increase from its previous 24-hour price.
Toncoin Price Review
Toncoin (TON) has also managed notable gains from its price movements today. Looking at an in-depth analysis, we see that the Toncoin price is moving above the Alligator’s jaws, indicating a bullish trend as the lines are well-aligned and upwards.
On the other hand, analyzing other indicators, we see that the ADX is relatively high at 54.37, indicating a strong trend. As of press time, the Toncoin price stood at $7.26, a 2.78% increase from its previous 24-hour price.
Solana Price Review
Solana (SOL) is another gainer in today’s session, as evidenced by its price movements. An in-depth analysis shows that the Solana price is currently at a pivotal point around the Supertrend line. A sustained move above could turn the trend bullish.
On the other hand, the Money Flow Index (MFI) indicates that the asset is neither overbought nor oversold, providing room for movement in either direction. As of press time, the Solana price stood at $148.63, a 1.6% increase from its previous 24-hour price.
Dogecoin Price Review
Dogecoin (DOGE) is among the gainers today as well, evidenced by its price movements. Looking at an in-depth analysis we see that Dogecoin is moving within the Ichimoku Cloud, suggesting a zone of uncertainty with potential trend changes.
Looking at other indicators, we see that the Woodies CCI is hovering around zero, reflecting a lack of strong momentum. As of press time, the Dogecoin price stood at $0.1555, a 7.6% increase from its previous 24-hour price.
