Daily Market Review: BTC, ETH, NOT, ENS, STX
Today’s market session has bulls on the front foot, as seen from the increase in the global market cap. As of press time, the total cap stood at $2.26T, representing a 1% increase over the last 24 hours.
Bitcoin Price Review
Bitcoin (BTC) is among the gainers in today’s session, as seen from its price movements. However, an in-depth analysis shows that *BTC* has been trending downwards, as indicated by a series of lower highs and lower lows within the confines of the Bollinger Bands.
Recently, the price made a bullish move, breaking above the middle Bollinger Band (20-period SMA), which could be a potential reversal or retracement signal. The ADX is 39.12, indicating a solid downward trend despite the recent bullish candle. As of press time, Bitcoin traded at $61,592, representing a 0,78% increase over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) is also among the gainers in today’s session, as seen from its price movements. Looking at in-depth analysis, *ETH* shows a downtrend with the price below the Ichimoku Cloud, suggesting bearish momentum. The price has been testing the bottom of the cloud, which acts as resistance. A sustained move above the cloud would change the bearish outlook.
On the other hand, the MFI (Money Flow Index) is around 45.06, indicating neutral momentum, neither overbought nor oversold. Ethereum traded at $3,385 as of press time, representing a 0.33% increase over the last 24 hours.
Notcoin Price Review
Notcoin (NOT) is a gainer in today’s session, as seen from its price movements. An in-depth analysis shows that Notcoin shows a consolidation pattern after a previous uptrend. The Alligator’s lines have intertwined, suggesting a lack of trend and the market entering a phase of equilibrium.
On the other hand, the AO (Awesome Oscillator) shows red bars, indicating a potential decrease in momentum. As of press time, Notcoin traded at $0.01614, representing a 12.9% increase over the last 24 hours.
Ethereum Name Service
Ethereum Name Service (ENS) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the ENS price oscillates around the Ichimoku Cloud, indicating an uncertain market direction.
On the other hand, the Woodies CCI is close to the zero line, suggesting a lack of strong momentum. A break above the cloud could signal bullish momentum, while a drop below could indicate bearish trends. As of press time, Ethereum Name Service traded at $25.43, representing a 9.4% increase over the last 24 hours.
Stacks Price Review
Stacks (STX) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that Stacks displays a double bottom pattern, typically a bullish reversal indicator. The RSI is above 50, supporting the potential for bullish momentum.
If the Stacks price breaks above the pattern’s neckline around $1.9, it could target higher resistance levels, confirming the reversal. As of press time, Stacks traded at $1.74, representing an 8.72% increase over the last 24 hours.
