The global crypto market is on the rise today, with a 1.36% increase in capitalization, confirming the bulls' control. Let's examine in detail how major cryptocurrencies like Bitcoin and Ethereum are performing in the current session.
Bitcoin Price Review
Bitcoin has posted small gains in today's session, trading above the 20-day Simple Moving Average (SMA). The price also remains above both the upper and lower bands of the Bollinger Band indicator, indicating strong buying momentum. However, the Awesome Oscillator shows decreasing green bars, signaling potential slowing momentum. As of press time, Bitcoin traded at $68,637, representing a 0.35% increase over the last 24 hours.
Ethereum Price Review
Ethereum also shows promising gains, recently moving above its 100-day SMA. The price is oscillating between the 50-day and 200-day SMAs, suggesting a potential consolidation phase. The Relative Strength Index (RSI) is above 60, supporting the bullish sentiment but nearing overbought territory. Ethereum traded at $2,727 as of press time, marking a 3.01% increase over the last 24 hours.
Other Cryptocurrencies: ApeCoin, dYdX and Cat in a Dogs World
ApeCoin has seen a significant recent surge, breaking above the Alligator indicator's lines, which is a bullish signal. However, the ADX shows a very strong trend in place. ApeCoin was trading at $1.49, a 20.29% increase over the last 24 hours.
dYdX has experienced a bullish breakout through the Ichimoku cloud, a traditionally bullish indicator. Trading at $1.22, dYdX rose by 20.98% over the last 24 hours.
Cat in a Dogs World displays a robust bullish rally with MFI over 70, indicating a possibly overbought asset. As of press time, the price stood at $0.00976, reflecting a 13.80% increase over the last 24 hours.
Today's session in the global crypto market is marked by active growth. Major cryptocurrencies like Bitcoin and Ethereum demonstrate positive trends, while other assets like ApeCoin and dYdX show significant price increases. However, investors should be mindful of indicators suggesting potential overbought conditions and market correction risks.