Daily Market Review: BTC, ETH, XRP, SOL, LINK

Bears are now becoming dominant in today’s session as seen from the decrease in the global market cap. The total cap stood at $2.6T as of press time, representing a 0.41% increase over the last 24 hours. On the other hand, the trading volume has seen a 15.3% drop over the last 24 hours. 

Bitcoin price Review

Bitcoin (BTC) is among the gainers in today’s session, as evidenced by its price movements. Looking at an in-depth analysis, we see that Bitcoin is experiencing consolidation after a recent uptrend, as indicated by the Bollinger Bands which show the price trading near the upper band, suggesting potential overbought conditions.

On the other hand, the RSI (Relative Strength Index)is positioned around 61.64 to 67.83, indicating a slightly overbought scenario but still in bullish territory. As of press time, the Bitcoin price stood at $70,263, a 0.72% increase from its previous 24-hour price.

Ethereum Price Review

Ethereum (ETH) is another gainer in today’s session, as evidenced by its price movements. Looking at an in-depth analysis, we see that the Supertrend is positive as the Ethereum price is above the Supertrend line, indicating bullish sentiment.

On the other hand, we see a bullish continuation is likely as long as the price remains above the Supertrend line and the consolidation phase does not break downwards. The Awesome Oscillator (AO) is on the positive side but headed towards the negative region, indicating fading bullish momentum. As of press time, the Ethereum price stood at $3,769, a 0.68% increase from its previous 24-hour price.

Ripple Price Review

Ripple (XRP) is facing corrections in today’s session after its initial pumps. Analysing Ripple price charts, we see that the Alligator Indicator lines are entangled, suggesting a consolidation phase might be occurring after a price surge.

On the other hand, looking at other indicators, we see that the Woodies CCI is on the positive side, suggesting a bullish outlook for the token. As of press time, the Ripple price stood at $0.5359, a 1.68% decrease from its previous 24-hour price.

Solana Price Review

Solana (SOL) is also among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Solana price is above the cloud, indicating bullish conditions. The cloud acts as a support area.

On the other hand, the Volume Oscillator shows declining volume, which might indicate a weakening of the current trend or consolidation. As of press time, the Solana price stood at $181.54, a 2.2% increase from its previous 24-hour price.

Chainlink Price Review

Chainlink (LINK) is among those facing corrections, as evidenced by its price movements. An in-depth analysis shows that the Chainlink price is within the upper half of the pitchfork, suggesting that bullish sentiment is strong.

On the other hand, the ADX (Average Directional Index) is high at around 35.44, indicating a mighty trend. As of press time, the Chainlink price stood at $16.66, a 0.54% decrease from its previous 24-hour price.