Daily Market Review: BTC, ETH, VIRTUAL, FARTCOIN, ALGO

The bulls are in total control of today’s session, as seen from the increase in the global market cap. The total cap stood at $3.51T as of press time, representing a 5.07% increase over the last 24 hours, while the trading volume jumped by 32.18% over the same period to stand at $162.07B as of press time

Bitcoin Price Review

Bitcoin, $BTC, posted a notable increase in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that BTC is trading near the upper Bollinger Band, suggesting possible overbought conditions. The Bitcoin price recently rejected resistance near $101,984, leading to some consolidation.

On the other hand, we see that the RSI is at 64.28, approaching the overbought region (70+), indicating potential exhaustion in the bullish move. Bitcoin traded at $99,366 as of press time, representing a 2.77% increase over the last 24 hours.

Ethereum Price Review

Ethereum, $ETH, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that ETH is in an uptrend, trading above the alligator’s moving averages. The MFI is at 71.82, suggesting ETH is nearing overbought conditions.

On the other hand, we see that the resistance is seen around $3,362, and a rejection here could lead to a pullback toward the blue alligator line (~$3,282). Ethereum traded at $3,355 as of press time, representing a 4.8% increase over the last 24 hours.

Virtuals Protocol Price Review

Virtuals Protocol, $VIRTUAL, is among the day’s top gainers as seen from its price movements. Looking at an in-depth analysis, we see that the Virtuals Protocol price recently broke above the Ichimoku cloud but is struggling to maintain the uptrend. The MFI is at 76.96 indicating overbought conditions, suggesting a possible pullback.

The Virtuals Protocol price is testing support at $3.6125 (conversion line). A breakdown may lead to a move towards $3.2672 (Kijun-sen). Virtuals Protocol traded at $3.65 as of press time, representing a 24.52% increase over the last 24 hours.

Fartcoin Price Review

Fartcoin, $FARTCOIN, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Supertrend is green, signaling an active uptrend.

On the other hand, we see that the AO shows increasing bullish momentum but has started to taper off, suggesting potential consolidation. Fartcoin traded at $1.21 as of press time, representing a 22.11% increase over the last 24 hours.

Algorand Price Review

Algorand, $ALGO, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that ALGO has broken above key moving averages, suggesting a bullish trend. The Volume Oscillator shows a slight decline in momentum.

On the other hand, we see that if ALGO holds above $0.3815 (50-SMA), bullish continuation towards $0.50+ is likely. Algorand traded at $0.4733 as of press time, representing a 23.15% increase over the last 24 hours.