Daily Market Review: BTC, ETH, ALGO, ELD, FET

The bulls are in control of todays session, as seen from the increase in the global market cap. The total cap stood at $3.33T as of press time, representing a 0.6% increase over the last 24 hours, while the trading volume dropped by 26% over the same period to stand at $147.85B as of press time.

Bitcoin Price Review

Bitcoin, $BTC, has posted slight gains in todays session, as seen from its price movements. Looking at an in-depth analysis, we see that The chart shows a strong uptrend as evidenced by the higher highs and higher lows over the four-hour time frames. The price is above the 50-100-200 simple moving averages (SMA), indicating a bullish trend.

On the other hand, we see that the Awesome Oscillator shows diminishing green bars, suggesting that the bullish momentum might be slowing down despite the overall uptrend. Bitcoin traded at $95,925 as of press time, representing a 0.4% increase over the last 24 hours.

4-hour BTC|USD Chart | Source: TradingView

Ethereum Price Review

Ethereum, $ETH, has failed to post gains in todays session as also seen from its price movements. Looking at an in-depth analysis, we see that the Ethereum price is hovering around the middle Bollinger Band, indicating a lack of strong directional bias in the short term. The bands are slightly converging, which might suggest decreasing volatility.

On the other hand, we see that the ADX (Average Directional Index) is at 25.23, indicating a weak to moderate trend strength. The market might be in a consolidation phase or preparing for a possible breakout. Ethereum traded at $3,569 as of press time, representing a 1.74% decrease over the last 24 hours.

4-hour ETH/USD Chart | Source: TradingView

Algorand Price Review

Algorand, $ALGO, is among the days top gainers as seen from its price movements. Looking at in-depth analysis, we see that the Algorand price is above both the cloud and the baseline (kijun-sen), suggesting bullish conditions. However, the conversion line (tenkan-sen) is flat, indicating potential short-term consolidation.

On the other hand, we see that the ADX stands at 33.40, suggesting a moderately strong trend. Algorand traded at $0.342 as of press time, representing a 19.9% increase over the last 24 hours.

4-hour ALGO/USDT Chart | Source: TradingView

Worldcoin Price Review

Worldcoin, $WLD, is among the days top gainers as seen from its price movements. Looking at an in-depth analysis, we see that the Worldcoin price is above the cloud, with both the conversion line and the baseline indicating upward momentum.

On the other hand, we see that the RSI is near 70, which is on the brink of being overbought. This could indicate a possible retracement or consolidation in the short term. Worldcoin traded at $2.90 as of press time, representing a 13% increase over the last 24 hours.

4-hour WLD/USDT Chart | Source: TradingView

Fetch.ai Price Review

Fetch.ai, $FET, is also among the day‘s top gainers as seen from its price movements. Looking at in-depth analysis, we see that the Fetch.ai price crossing above the Alligator indicator’s lines (jaw, teeth, and lips) suggests that the market could be waking up to a new bullish trend.

Looking at other indicators, we see that the MACD line is above the signal line and the histogram is positive, reinforcing the bullish momentum observed in the price movement. Fetch.ai traded at $1.63 as of press time, representing a 9% increase over the last 24 hours.

4-hour FET/USDT Chart | Source: TradingView