Daily Market Review: BTC, ETH, ENA, W, FLR

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Today’s market session saw bulls regain control of markets, as evidenced by the jump in the global market cap. The global market cap stood at $2.54T, representing a 0.5% increase over the last 24 hours while the trading volume dropped by 36.8% over the last 24 hours. 

Bitcoin Price Review

Bitcoin (BTC) is still facing consolidations today as evidenced by its slight price movements. The Bitcoin price is currently moving within the upper band of the Bollinger Bands, indicating bullishness. However, it has not breached the upper band, suggesting the uptrend is not overly aggressive.

The Bollinger Bands appear moderately wide, suggesting average volatility in Bitcoin price movement. The Woodies CCI fluctuates around the zero line, showing weak momentum in either direction. The Bitcoin price was $68,063 during writing, representing a minor 0.42% pump from its previous 24-hour price.

4-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) has also posted slight gains today as evidenced by its price movements. The Bitcoin price trades slightly above the Ichimoku Cloud, indicating a potential uptrend. However, it’s very close to the cloud, so the trend might not be strongly established.

The cloud thickness is moderate, suggesting average future volatility. On the other hand, the MFI is relatively high, indicating that the buying pressure has been strong recently, which could support the continuation of the uptrend. As of press time, the Ethereum price stood at $3,335, representing a 0.72% increase from its previous 24-hour price.

4-hour ETH/USD Chart | Source: TradingView

Ethena Price Review

Ethena (ENA) is also having a good session today as seen from its price movements. The Alligator lines are intertwined, indicating a lack of a clear trend or consolidation market. The lack of separation between the Alligator lines suggests low market volatility.

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On the other hand, the ADX is declining but still above 25, indicating a weakening trend strength, yet it’s still in a range that suggests some trend presence. As of press time, the Ethena price stood at $1.13, representing a 17.75% increase from its previous 24-hour price.

4-hour ENA/USDT Chart | Source: TradingView

Wormhole Price Review

Wormhole (W) is among today’s top gainers, posting notable gains. The Wormhole price moves within an ascending pitchfork pattern, indicating a short-term uptrend. On the other hand, the Auto Pitchfork channels are widening, which could suggest increasing volatility as the price ascends.

The Woodies CCI shows some volatility around the zero line, without a clear trend direction indicated. During writing, the Ethena price stood at $1.11, representing a 16.25% increase from its previous 24-hour price.

4-hour W/USDT Chart | Source: TradingView

Flare Price Review

Flare (FLR) is also another gainer in today’s session. The Supertrend indicator is below the Flare price and green, signaling a bullish trend. On the other hand, no direct volatility indicator is present, but the recent large green candles suggest increasing bullish volatility.

Additionally, the CCI has had large swings but is currently just above zero, suggesting that momentum may shift towards bullish, but this has not been strongly confirmed. During writing, the Flare price stood at $0.0435, a 14% increase from its previous 24-hour price.

4-hour FLR/USDT Chart | Source: TradingView

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