Daily Market Review: BTC, ETH, ICP, PUNDI, TIA

ethereum-blue2

Today’s market session has seen bulls regain control of today’s session as seen from the increase in the global market cap. The total cap stood at $2.35 as of press time representing a 4.5% increase in the last 24 hours while the trading volume also jumped by 13.7% to stand at $113.9 B as of the same period.

Bitcoin Price Review

Bitcoin (BTC) has started on a recovery session today as the crypto king posted some notable gains. Looking at an in-depth analysis, we notice that the Bollinger Bands indicate that Bitcoin was trading in a volatile range but has recently narrowed, suggesting a period of consolidation. The Relative Strength Index (RSI) is around 54, which is relatively neutral, neither overbought nor oversold.

The Bitcoin price is currently trading near the upper Bollinger Band, which, if it continues to move upward, could indicate resistance or a breakout. As of press time, the Bitcoin price stood at $64,700, representing a 3% increase from its previous 24-hour price.

4-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) also made some notable gains in today’s session. The Ethereum price is below the Super Trend indicator line, signaling a bearish trend. The Money Flow Index (MFI) is at 60.47, indicating a neutral position but leaning towards being overbought.

On the other hand, the chart shows some resistance near the upper part of the cloud, which could become a pivotal level for either a reversal or breakout.  As of press time, the Ethereum price stood at $3,079, representing a 1.2% increase from its previous 24-hour price.

4-hour ETH/USD Chart | Source: TradingView

Internet Computer Price Review

Internet Computer was another gainer in today’s session, posting notable gains. Looking at an in-depth analysis, the Alligator indicator suggests a possible end to a downtrend and a potential reversal, as the lines interweave.

See also  What to expect after the Bitcoin Halving: a look at post-halving performance

The Volume Oscillator is slightly positive, indicating a marginal increase in buying volume. The Internet Computer price is currently hovering above the middle Alligator line, which might be a support. As of press time, the Internet Computer price stood at $13.77, representing an 11.6% increase from its previous 24-hour price.

4-hour ICP/USDT Chart | Source: TradingView

Pundi X Price Review

Pundi X (PUNDI) is also among the gainers today, posting some notable gains in today’s session. The Ichimoku Cloud is above the Pundi X price, indicating a bearish trend with resistance above. The Pundi X price is slightly uptrend but needs to break above the Ichimoku Cloud to suggest a potential trend reversal.

On the other hand, the Average Directional Index (ADX) is around 33.96, which signifies a strong trend. Given that the trend has been downward, the high ADX could suggest the downtrend is still strong. As of press time, the Pundi X price stood at $39.7, representing a 39.7% increase from its previous 24-hour price.

4-hour PUNDI/USDT Chart | Source: TradingView

Celestia Price Review

Celestia (TIA) is also another gainer in today’s session. An Auto Pitchfork tool indicates potential support and resistance levels within the trend lines. The Money Flow Index (MFI) is high at 74.10, which could indicate overbought conditions and a potential pullback.

The Celestia price is approaching the median line of the Pitchfork, which could act as resistance. As of press time, it stood at $10.96, representing a 10.9% increase from its previous 24-hour price. 

4-hour TIA/USDT Chart | Source: TradingView

Leave a Reply

Your email address will not be published. Required fields are marked *