Daily Market Review: BTC, ETH, ENS, WIF, BEAM
Today’s market session has seen bulls back in charge, as seen from the increase in the global market cap. The total cap stood at $2.33T as of press time, representing a 3.8% increase over the last 24 hours. On the other hand, the trading volume stood at $53.08B as of the same period, representing a 51.9% increase.
Bitcoin Price Review
Bitcoin (BTC) is among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Bitcoin price has recently broken above the Ichimoku Cloud, indicating a potential shift from bearish to bullish momentum. The leading span A is above span B, suggesting a bullish trend.
On the other hand, the Woodies CCI is above 100, signalling that the price is in a strong uptrend. The recent value of 157.94 indicates overbought conditions so that a pullback could be imminent. As of press time, Bitcoin traded at $63,298, representing a 3.18% increase over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) is also another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that Ethereum is forming a rising wedge pattern, which is typically a bearish reversal pattern. The Ethereum price is near the upper boundary of the wedge, indicating a potential downward breakout.
On the other hand, the Woodies CCI is around 171.17, suggesting that the price is overbought and might reverse. As of press time, Ethereum traded at $3,483, representing a 2.8% increase over the last 24 hours.
Ethereum Name Service Price Review
Ethereum Name Service is also among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Ethereum Name Service price is touching the upper Bollinger Band, indicating overbought conditions and a possible reversal or consolidation.
On the other hand, the Woodies CCI is around 161.66, indicating overbought conditions. Ethereum Name Service traded at $33.43 as of press time, representing a 29.29% increase over the last 24 hours.
Dogwifhat Price Review
Dogwifhat (WIF) is among the gainers in today’s session as seen from its price movements as well. Looking at an in-depth analysis, we see that the Alligator’s lips (green), teeth (red), and jaw (blue) are widening, indicating a strong upward trend.
On the other hand, looking at other indicators, we see that the RSI is at 68.42, approaching the overbought level of 70. Dogwifhat traded at $2.3 as of press time, representing a 13.7% increase over the last 24 hours.
Beam Price Review
Beam (BEAM) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the Beam price has recently moved above the Ichimoku Cloud, suggesting a potential bullish trend.
On the other hand, we see that the MFI (Money Flow Index) is at 73.99, indicating overbought conditions. Beam traded at $0.01708 as of press time, representing a 9.6% increase over the last 24 hours.
