The post Daily Market Review: BTC, ETH, CRO, ADA, AR appeared on BitcoinEthereumNews.com.

The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.53T as of press time, representing a 2.62% increase over the last 24 hours, while the trading volume dropped by 6.65% over the same period to stand at $131.02B as of press time. Bitcoin Price Review Bitcoin, $BTC, has posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the price is moving along the upper band, indicating a strong uptrend with potential overbought conditions. If BTC continues to stay near the upper band, it suggests sustained buying pressure. However, a pullback toward the middle band (20 SMA) may occur if buyers lose momentum. On the other hand, we see that the ADX (Average Directional Index) value is 47.76, indicating a strong trend. As long as this stays above 25-30, the trend strength remains significant, favoring continued upward movement. Bitcoin traded at $76,073 as of press time, representing a 1.47% increase over the last 24 hours. 4-hour BTC|USD Chart | Source: TradingView Ethereum Price Review Ethereum, $ETH, has also posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the three Alligator lines (jaw, teeth, and lips) are widely spread, confirming a strong bullish trend as ETH remains above these lines. The alignment of green (lips), red (teeth), and blue (jaw) lines from top to bottom signals a well-established uptrend. On the other hand, we see that the MFI (Money Flow Index) is at 91.73, indicating an overbought condition. This could lead to a temporary pullback if buying pressure wanes. Ethereum traded at $2,941 as of press time, representing a 4.7% increase over the last 24 hours. 4-hour ETH/USD Chart | Source:…

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Filed under: News - @ November 8, 2024 9:27 pm