Daily Market Review: BTC, ETH, WIF, CKB, FLOKI

Bulls are still dormant in today’s session, as seen from the rice in the global market cap. The total cap stood at $2.29T as of press time, representing a 3.6% increase over the last 24 hours, while the trading volume dropped by 19.8% within the same period to stand at $73.21.

Bitcoin Price Review

As seen from its price movements, Bitcoin (BTC) is still bullish today. In-depth analysis shows that the Bitcoin price recently broke out from a declining trend, as indicated by the move above the Bollinger Bands’ middle line and the 20 SMA. A significant bullish candle stands out, suggesting strong buying interest.

On the other hand, the Awesome Oscillator shows a change in momentum, shifting from negative to positive territory, which supports the bullish momentum observed in the price action. As of press time, the Bitcoin price stood at $62,990, representing a 6.02% jump from its previous 24-hour price.

4-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) is another gainer in today’s session, as seen from its price movements today. An in-depth analysis shows that Ethereum is trading just above its moving averages, suggesting a potential reversal of the prior downtrend. Recent candles form higher lows, indicating a potential shift from bearish to bullish.

The MACD shows a bullish crossover, with the MACD line crossing above the signal line, which is typically bullish. The Ethereum price is moving above the Alligator’s teeth (red line), indicating potential continued bullish movement. As of press time, the Ethereum price stood at $3,104, representing a 3.8% jump from its previous 24-hour price.

4-hour ETH/USD Chart | Source: TradingView

Dogwifhat Price Review

Dogwifhat (WIF) is today’s top gainer, as seen from its price movements in today’s session. An in-depth analysis shows that the Dogwifhat price has recently surged, breaking past resistance levels and testing new highs. This strong upward movement is indicated by the sharp rise away from the Supertrend indicator, which turned green, signalling a buy.

On the other hand, the Woodies CCI shows a sharp rise, reinforcing the strong bullish momentum indicated by the price action. As of press time, the Dogwifhat price stood at $3.32, representing a 20.1% jump from its previous 24-hour price.

4-hour WIF/USDT Chart | Source: TradingView

Nervos Network Price Review

Nervos Network (CKB) is another gainer in today’s session, as seen from its price movements. Analysing Nervos Network price charts, we see that the token has been consolidating and is attempting to break away from the Ichimoku cloud, which can signal a potential bullish phase if sustained.

Looking at other indicators, we see that the RSI is climbing, currently around the 60 level, indicating strong buying momentum, but still needs to be overbought. As of press time, the Nervos Network price stood at $0.01864, representing an 18.5% jump from its previous 24-hour price.

4-hour CKB/USDT Chart | Source: TradingView

Floki Inu Price Review

Floki Inu (FLOKI) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that Floki Inu shows a strong upward trend within a defined channel, as depicted by the Auto Pitchfork indicator. Recent price action is near the channel’s upper boundary, indicating strong bullish momentum.

On the flip side, the Money Flow Index (MFI) is very high, currently around 80, which suggests overbought conditions; however, this can also indicate strong buying pressure. As of press time, the Floki Inu price stood at $0.000193, representing a 17.35% jump from its previous 24-hour price.

4-hour FLOKI/USDT Chart | Source: TradingView

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