Daily Market Review: BTC, ETH, PENDLE, SNX, STX
BTC
ETH
SNX
STX
PENDLE
The bulls are still in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.21T as of press time, representing a 1.98% increase over the last 24 hours, while the trading volume dropped by 6.08% over the same period to stand at $51B as of press time.
Bitcoin Price Review
Bitcoin $BTC is among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Bitcoin price is currently touching the upper Bollinger Band, indicating a potential overbought condition. This often suggests a pullback or consolidation could occur soon. The 20-period SMA is trending upwards, showing short-term bullish momentum.
On the other hand, the Relative Strength Index (RSI) is above 70, indicating overbought conditions. This suggests a potential price correction in the near term. As of press time, Bitcoin traded at $62,899, representing a 4.5% increase over the last 24 hours.
Ethereum Price Review
Ethereum $ETH is among the gainers in today’s session, as seen from its price movements. An in-depth analysis of the three lines (Jaw, Teeth, Lips) is spreading apart, which indicates a strong trend. In this case, the uptrend is strong as the price is above all three lines. Moving Averages (MA): Price is above the moving averages, confirming the bullish trend.
On the other hand, the Money Flow Index (MFI) is at 94.39, indicating overbought conditions. A price correction might be expected. As of press time, Ethereum traded at $3,351, representing a 4.76% increase over the last 24 hours.
Pendle Price Review
Pendle $PENDLE is among the gainers in today’s session, as seen from its price movements. In an in-depth analysis, the Supertrend indicator is below the price, showing a bullish signal. The recent move above the resistance line reinforces this bullish outlook.
On the other hand, the Woodies Commodity Channel Index (CCI) is at 161.674, which is in overbought territory. This suggests that the price might experience some pullback or consolidation. As of press time, Pendle traded at $4.40, representing a 14.19% increase over the last 24 hours.
Synix Price Review
Synix $SNX is among the gainers in today’s session, as seen from its price Synix movements. Looking at the price is above the cloud, indicating a bullish trend. The conversion line (Tenkan-sen) is above the baseline (Kijun-sen), which is a bullish signal.
On the other hand, the Average Directional Index (ADX) is at 31.26, suggesting a strong trend, currently upwards. As of press time, Syunix traded at $4.40, representing a 14.19% increase over the last 24 hours.
Stacks Price Review
Stacks $STX is also another gainer in today’s session as seen from the rice movements. Looking at an in-depth analysis, we see that the Stacks price is currently at the upper boundary of the pitchfork channel, indicating potential resistance. A breakout above this level could signal further upside.
On the other hand, we see that the woodies Commodity Channel Index (CCI) is at 225.444, indicating overbought conditions. A potential pullback could be anticipated. As of press time, Stacks traded at $1.89, representing a 12.17% increase over the last 24 hours.
