Today, bulls have made a significant impact on the markets, pushing the global market cap 6.7% higher than its previous 24-hour mark, now standing at $1.73 trillion. The fear and greed index registers at 74, indicating prevailing greed sentiment.
Bitcoin‘s Performance Bitcoin (BTC) has taken the lead, standing at $46.7K presently, marking a 6.2% daily increase and a 2.9% weekly rise. The surge in Bitcoin’s price led to a 71% spike in trade volume, now at $41.1 billion. Despite this rise, uncertainty lingers in the short term as bulls and bears wrestle for control. The Relative Strength Index points south, suggesting bearish pressure, while the MACD hints at bullish movements.
Ethereum‘s Movement Ethereum (ETH) rides the bullish wave, at $2303 currently, showing a 3.3% daily increase but a 3.8% weekly drop. Ethereum’s trade volume escalated by 44% to $12.7 billion. Like Bitcoin, Ethereum’s short-term trajectory appears uncertain, with conflicting signals from the Relative Strength Index pointing to bearish action and the MACD hinting at bullish prospects.
Solana‘s Surge Solana (SOL) stands at $102.5, registering a 13.2% daily increase but a 10% weekly drop. Trade volume surged by 42% to $4.1 billion. Indicators signal a bullish short-term trajectory, with the Relative Strength Index indicating buying pressure and the MACD moving towards the green zone, indicating positive momentum.
Avalanche‘s Performance Avalanche (AVAX) currently sits at $37.6, showcasing a 12.3% daily surge but a 13.6% weekly drop. Trade volume rose to $1 billion by 36%. Several indicators suggest a bullish outlook in the short term, including a rising Relative Strength Index indicating buying pressure and a MACD indicating positive momentum.
Internet Computer‘s Movement Internet Computer (ICP) stands at $13.5, experiencing a 20.7% daily increase, trading slightly above its previous 7-day price. Trade volume surged to $438 million by 137%. However, indicators suggest a potential bearish trajectory in the short term, with both the Relative Strength Index and MACD signaling possible bearish action.
These analyses reveal an intense battle between bullish and bearish forces in the market, resulting in mixed signals and an uncertain short-term outlook for various cryptocurrencies.
