Bitcoin, Ethereum, and Shiba Inu See Green as Bulls Take Back Control: Market Watch
- PHPzOriginal
- 2024-07-12 18:31:421016browse
Today’s market session has seen bulls take back control, as seen from the rise in the global market cap.
The global cryptocurrency market cap increased by 5.18% over the last 24 hours to $2.08 trillion as of press time. The trading volume decreased by 26.77% over the same period to $89.3 billion.
Bitcoin (BTC) price movements show that the coin is a gainer in today’s session. In-depth analysis shows that the Bitcoin price is moving towards the upper band, indicating a potential reversal from the downtrend. The narrowing of the bands suggests decreased volatility. The cost exceeds the 20 SMA, which can be a bullish signal. If it holds, it may indicate a shift to an upward trend.
On the other hand, we see that the MFI is at 59.14, which is nearing the overbought threshold (above 80), indicating a potential for further upward movement but with caution for a possible pullback. As of press time, Bitcoin traded at $57,834, showing a 2% increase over the last 24 hours.
Ethereum (ETH) is another gainer in today’s session, as evidenced by its price movements. In-depth analysis shows that the Alligator lines are starting to converge after a downtrend, signaling a potential reversal if the price moves above the teeth (red line).
On the other hand, we see that the AO histogram bars are turning green and increasing in size, suggesting bullish momentum is building. This aligns with the potential reversal indicated by the Alligator. As of press time, Ethereum traded at $3,053, showing a 1.96% increase over the last 24 hours.
Core DAO (CORE) is today’s top gainer, as shown by its price movements. An in-depth analysis shows that the Core DAO price has broken above the supertrend resistance level, indicating a buy signal. The trend may be shifting from bearish to bullish.
On the other hand, the Woodies CCI is currently above 100, indicating strong bullish momentum. A value above 100 suggests a solid upward trend. As of press time, Core DAO traded at $1.09, showing a 23.46% increase over the last 24 hours.
As the price movements show, JasmyCoin (JASMY) is another gainer today. An in-depth analysis shows that the JasmyCoin price is approaching cloud resistance, and a break above it would indicate a bullish reversal. The leading span A and B lines are also converging, suggesting a potential end to the downtrend.
On the other hand, looking at other indicators, we see that the volume oscillator shows a slightly negative value, indicating that recent price increases are happening at lower volumes, which could suggest a weaker bullish movement. As of press time, JasmyCoin traded at $0.02461, showing a 23.46% increase over the last 24 hours.
Shiba Inu (SHIB) is among the gainers today, as seen from its price movements. An in-depth analysis shows that the Shiba Inu price has broken out above the pitchfork’s upper line, indicating a bullish trend. The breakout suggests the potential for further upward movement.
On the other hand, the ADX shows a strong trend. Since the ADX is above 25, it confirms that the current trend is strong, supporting the bullish breakout seen in the pitchfork analysis. As of press time, Shiba Inu traded at $0.00001692, representing a 16.19% increase over the last 24 hours.
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