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

The bulls are still dormant in today’s session as seen by the rice in the global market capitalization. At the time of writing, the total limit stood at $2.29 trillion, up 3.6% over the past 24 hours, while trading volume fell 19.8% over the same period to stand at $73.21.

Bitcoin price review

As seen from its price movements, Bitcoin (BTC) is still bullish today. An in-depth analysis shows that Bitcoin price has recently broken out of a declining trend, as indicated by the movement above the midline of the Bollinger bands 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, moving from negative to positive territory, which supports the bullish momentum observed in the price action. At the time of writing, the price of Bitcoin was at $62,990, an increase of 6.02% over the previous price in 24 hours.

BTC/USD 4-hour chart | Source: TradingView

Ethereum price review

Ethereum (ETH) is another riser in today’s session as seen by its price movements today. An in-depth analysis shows that Ethereum is trading just above its moving averages, suggesting a potential reversal of the previous 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. Ethereum price is moving above the alligator’s teeth (red line), indicating a potential continued bullish move. At the time of writing, the price of Ethereum stood at $3,104, up 3.8% from its previous price in 24 hours.

ETH/USD 4-hour chart | Source: TradingView

Dogwifhat Price Review

Dogwifhat (WIF) is the currency that gained the most today as seen from the price movements in today’s session. In-depth analysis shows that Dogwifhat price has recently increased, breaking past resistance levels and testing new highs. This strong upward movement is indicated by the sharp rise in the Supertrend indicator, which has turned green, signaling a buy.

On the other hand, the Woodies CCI shows a strong increase, reinforcing the strong bullish momentum indicated by the price action. At the time of writing, Dogwifhat’s price was $3.32, up 20.1% from its previous price in 24 hours.

WIF/USDT 4-Hour Chart | Source: TradingView

Nervos network price review

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

Looking at the other indicators, we see that the RSI is moving up, currently around the 60 level, indicating strong buying momentum, but it has yet to be overbought. At the time of writing, the price of Nervos Network stood at $0.01864, which is an increase of 18.5% from the previous 24-hour price.

CKB/USDT 4-Hour Chart | Source: TradingView

Floki Inu Price Review

Floki Inu (FLOKI) is another bull in today’s session as seen by its price movements. In-depth analysis shows that Floki Inu displays a strong uptrend within a defined channel as illustrated by the Auto Pitchfork indicator. The recent price action is near the upper boundary of the channel, indicating strong bullish momentum.

On the other hand, the Money Flow Index (MFI) is very high, currently around 80, suggesting overbought conditions; however, this can also indicate strong buying pressure. At the time of writing, Floki Inu price was at $0.000193, up 17.35% from the previous 24-hour price.

FLOKI/USDT 4-hour chart | Source: TradingView

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