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The bears are in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.3T as of press time, representing a 0.48% decrease over the last 24 hours, while the trading volume dropped by 34% over the same period to stand at $48.3B as of press time.  Bitcoin Price Review Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that Bitcoin has been trading in a consistent uptrend, with higher highs and higher lows. The current price is approaching the upper Bollinger Band, which may indicate a potential overbought condition. The price is moving towards the upper band, suggesting upward momentum. However, it is slightly pulling back from the recent highs, which could mean a temporary consolidation. On the other hand, we see that the RSI is at 56.82, signaling that the market is neutral, neither overbought nor oversold. If the RSI crosses above 70, we might see an overbought condition. Bitcoin traded at $65,556 as of press time, representing a 0.36% decrease over the last 24 hours. 4-hour BTC|USD Chart | Source: TradingView Ethereum Price Review Ethereum, $ETH, has also failed to post gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Ethereum price is currently above the cloud, which is a strong bullish signal. The Tenkan-Sen (blue line) and Kijun-Sen (red line) have crossed over, supporting the uptrend. On the other hand, we see that the RSI is at 73.20, indicating that XRP is overbought. A potential pullback could occur before continuing the uptrend. Ethereum traded at $2,646 as of press time, representing a 1.32% decrease over the last 24 hours. 4-hour ETH/USD Chart…

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Filed under: News - @ September 29, 2024 9:20 am