Bitcoin (BTC), Ethereum (ETH), Stacks (STX), MANTRA (OM), and Aave (AAVE) Price Analysis: 04 April 2022

The bulls are still in control in today's session, as seen from the increase in the global market cap.

The cryptocurrency market cap increased on Monday, with some top coins showing gains and others facing losses.

What Happened: The global crypto market cap stood at $2.15 trillion as of 11:13 ET, showing a 1.4% increase in the last 24 hours. The trading volume dropped by 25.28% over the same period to stand at $65.14 billion as of press time.

Bitcoin (CRYPTO: BTC) price was not among the gainers on Monday, as seen from its price movements. An in-depth analysis showed the Bitcoin price is currently in the middle of the Bollinger Bands, suggesting a neutral position. The price moving towards the upper band may indicate a bullish trend. Conversely, if it moves towards the lower band, it may indicate a bearish trend.

On the other hand, the RSI (Relative Strength Index) was around 53, which is in the neutral zone. This indicates that the market is neither overbought nor oversold, and there is no strong trend currently. As of press time, Bitcoin traded at $57,994, representing a 1.3% decrease over the last 24 hours.

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Ethereum (CRYPTO: ETH) price also didn’t gain on Monday, as seen from its price movements. An in-depth analysis showed that the Alligator’s Jaw (blue), Teeth (red), and Lips (green) are intertwined, suggesting a lack of a strong trend. If these lines start to fan out and align (green above red above blue), it could indicate an emerging trend.

On the other hand, the MFI (Money Flow Index) was around 54, indicating a neutral position with no strong buying or selling pressure. Ethereum traded at $3,104 as of press time, representing a 0.15% decrease over the last 24 hours.

Stacks (CRYPTO: STX) price was among the gainers on Monday, as seen from its price movements. An in-depth analysis showed a clear double-bottom pattern indicating a potential reversal of the previous downtrend. Based on the pattern’s height, the target of this pattern is projected higher. The Stacks price has broken above the neckline of the double-bottom pattern, confirming the bullish reversal.

On the other hand, the Woodies CCI (Commodity Channel Index) was positive, suggesting bullish momentum. As of press time, Stacks traded at $1.63, representing a 10.4% increase over the last 24 hours.

MANTRA (CRYPTO: OM) price was among the gainers on Monday, as seen from its price movements. An in-depth analysis showed that the Mantra price is forming a rising wedge, which is generally considered a bearish pattern. A breakdown below the lower trendline of the wedge would confirm this bearish scenario.

On the other hand, we see that the Volume Oscillator is decreasing, which often accompanies a rising wedge and suggests weakening momentum. As of press time, MANTRA traded at $0.9622, representing a 2.53% increase over the last 24 hours.

Aave (CRYPTO: AAVE) price was also a gainer on Monday, as seen from its price movements. An in-depth analysis showed that the Aave price is currently above the Ichimoku Cloud, indicating a bullish trend. The conversion line (blue) is above the baseline (red), reinforcing this bullish sentiment.

On the other hand, the RSI is around 65, nearing overbought territory but not quite there yet. This indicates strong bullish momentum, but caution is advised as it approaches the overbought zone. As of press time, Aave traded at $90.22, representing a 3.79% increase over the last 24 hours.

The above is the detailed content of Bitcoin (BTC), Ethereum (ETH), Stacks (STX), MANTRA (OM), and Aave (AAVE) Price Analysis: 04 April 2022. For more information, please follow other related articles on the PHP Chinese website!