Daily Market Review: BTC, ETH, BEAM, BONK, EGLD
Bulls continue showing 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 2.26% increase over the last 24 hours, while the trading volume jumped by 52% over the same period to stand at $60.12B as of press time.
Bitcoin Price Review
Bitcoin (BTC) is not among the gainers in today’s session, as seen from its price movements. However, an in-depth analysis shows that the Bitcoin price recently emerged from a period of consolidation and broke above the upper Bollinger Band, suggesting upward momentum. This is usually interpreted as a bullish signal.
On the other hand, looking at other indicators, we see that the Awesome Oscillator is headed back towards the negative region, indicating failing bullishness. As of press time, Bitcoin traded at $62,604, representing a 1.1% decrease over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) is not among the gainers today, as seen from the price movements. However, an in-depth analysis shows that Ethereum’s price action has been ranging with slight bullish undertones, as indicated by the Alligator’s lines starting to fan out, signalling a potential continuation of the uptrend.
The MFI is stable above 70, suggesting a strong market. However, it is overbought, which could lead to a short-term pullback. As of press time, Ethereum traded at $3,437, representing a 1.32% decrease over the last 24 hours.
Beam Price Review
Beam (BEAM) is today’s top gainer, as seen from its price movements during today’s session. An in-depth analysis shows that BEAM has shown significant upward momentum, with a strong close above the Ichimoku cloud.
On the other hand, looking at another indicator, we see that the Volume Oscillator has increased significantly, indicating strong buying interest. As of press time, the Beam price was $0.01904, representing an 11.6% increase over the last 24 hours.
Bonk Price Review
Bonk (BONK) has also made it to the gainers list today, as evidenced by its price movements. Analysing Beam price charts, we see that BONK has broken above the Ichimoku cloud, which is a bullish signal.
The MFII is now deviating from the overbought territory, currently around 75, suggesting fading buying pressure cautioning for a potential reversal. As of press time, the Bonk price was $0.00002612, representing an 8.7% increase over the last 24 hours.
MultiversX Price Review
MultiversX (EGLD) is among the gainers today, as seen from its price movements. Looking at an in-depth analysis, we see that EGLD is on a strong upward trajectory within the confines of an ascending pitchfork, indicating a stable bullish trend.
The MACD shows increasing bullish momentum as the MACD line is above the signal line, and both are heading upwards. As of press time, the MultiversX price was $32.36, representing an 8.1% increase over the last 24 hours.
