Daily Market Review: ETH, PEPE, LDO, BONK, ARB
Today’s market session has seen bulls on the front foot as seen from the increase in the global market cap. The total cap stood at $2.6T as of press time, representing a 5.5% increase over the last 24 hours. The trading volume also jumped by 154% to stand at $167.15B as of the same period.
Ethereum Price Review
Ethereum (ETH) 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 chart shows a significant bullish breakout with a sharp rise in price, moving away from the 20 SMA (Simple Moving Average) Bollinger Band mean, indicating a solid upward momentum.
On the other hand, the RSI (Relative Strength Index) is high at 78.91, suggesting overbought conditions that might signal a potential pullback or consolidation in the short term. As of press time, the Ethereum price stood at $3,738, a 19.5% increase from its previous 24-hour price.
Pepe Price Review
Pepe (PEPE) is among the top gainers in today’s session as evidenced by its price movements. Looking at an in-depth analysis, we see that the Pepe price has recently spiked, showing strong bullish momentum. The moving averages (Alligator indicator) are aligned in a bullish setup with the green line (jaw) below the red (teeth) and blue (lips) lines.
On the other hand, the MFI (Money Flow Index) at 86.52, indicates extremely overbought market conditions, increasing the likelihood of a corrective pullback. As of press time, the Pepe price stood at $0.00001281, a 34.21% increase from its previous 24-hour price.
Lido DAO Price review
Lido DAO (LDO) is also among the gainers in today’s session, as evidenced by its price movements. Looking at in-depth analysis, we see that the Lido DAO price experienced a strong upward movement, breaking above the Supertrend indicator, which shifted from bearish to bullish.
On the other hand, the CCI (Commodity Channel Index) is at -5.046, indicating that the momentum might be slowing down despite the recent price spike. As of press time, the Lido DAO price stood at $2.23, a 23.79% increase from its previous 24-hour price.
Bonk Price Review
Bonk (BONK) is another gainer in today’s session, as evidenced by its price movements. An in-depth analysis shows that BONK shows a solid bullish trend, with the Bonk price action recently breaking above the upper boundary of the Ichimoku cloud, signaling a solid buy.
On the other hand, the volume oscillator is at 1.10%, indicating a slight increase in buying volume and supporting the current price movement. As of press time, the Bonk price stood at $0.00003149, a 20.9% increase from its previous 24-hour price.
Arbitrum Price Review
Arbitrum (ARB) is also among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Arbiotrum price has followed an upward trajectory within an auto pitchfork, suggesting a solid uptrend. It recently tested the upper limit of the pitchfork.
On the other hand, the MFI is at 73.48, near the overbought territory but not as extreme, suggesting that there might be room for further price appreciation. As of press time, the Arbitrum price stood at $1.19, a 19.27% increase from its previous 24-hour price.
