Daily Market Review: BTC, ETH, AVAX, HBAR, DOGE
Bulls continue to show dominance in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.33T as of press time, representing a 3.65% increase over the last 24 hours. On the other hand, the trading volume has seen a 51.8% increase over the same period to stand at $53.1B.
Bitcoin Price Review
Bitcoin (BTC) is among the gainers in today’s session, as evidenced by its price movements over the last 24 hours. An in-depth analysis shows that the Bitcoin chart displays a recent consolidation pattern, with the price currently around $63,249. The Ichimoku Cloud, with the price above the baseline (blue line) but within the cloud, indicates uncertainty with no clear trend. A bullish signal could be confirmed if the price consistently stays above the cloud.
On the other hand, the volume oscillator is relatively flat, suggesting a current lack of strong buying or selling momentum. As of press time, Bitcoin traded at $63,478, representing a 2.8% 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. An in-depth analysis shows that Ethereum is showing strength. It recently breached the upper boundary of the Bollinger Bands and moved above the cloud, a bullish indicator. The price is around $3,471.63.
Looking at other indicators, we see that the Moving Average Convergence Divergence (MACD) is above the signal line, supporting the bullish sentiment. Investors might look for sustained movements above the cloud for further confirmation of a bullish trend. As of press time, Ethereum traded at $3,481, representing a 2.24% increase over the last 24 hours.
Avalanche Price Review
Avalanche (AVAX) is also among the gainers in today’s session, as seen from its price movements. In-depth analysis shows that the AVAX chart presents a recent uptrend, with the price trading above all three moving averages in the Alligator indicator, which suggests a bullish market environment.
On the other hand, the price at $29.70 also coincides with increasing the green histogram on the Awesome Oscillator, indicating growing bullish momentum. Maintaining above the moving averages could further support the upward trajectory. As of press time, Avalanche traded at $29.71, representing a 6.4% increase over the last 24 hours.
Hedera Price Review
As seen from its price movements, Hedera (HBAR) is among today’s session’s gainers. An in-depth analysis shows that Dogecoin’s chart shows a trading range highlighted by a rectangular pattern. The current price hovers around $0.12529.
On the other hand, the ADX (Average Directional Index) is quite low at 11.31, indicating a weak trend. The market might look for a breakout above the rectangle pattern as a potential bullish signal. If successful, the outlined target is set around $0.14500. As of press time, Avalanche Hedera traded at $0.07659, representing a 1.35% increase over the last 24 hours.
Dogecoin Price Review
Dogecoin (DOGE) is also among the gainers in today’s session, evidenced by its price movements. An in-depth analysis of the Hedera chart shows that price trading is in a relatively tight range with occasional spikes. Currently, at $0.07647, it’s near the middle band of the Bollinger Bands and just above the SuperTrend indicator, signaling potential support.
On the other hand, the Woodies CCI is close to zero, indicating a lack of momentum. A sustained break above the recent highs and the upper Bollinger Band would be needed for a bullish scenario. As of press time, Dogecoin traded at $0.1255, representing a 2.35% increase over the last 24 hours.
