Daily Market Review: BTC, ETH, NEO, ONDO, PENDLE

15.04.2024

Today’s market session has started with bulls showing tremendous recovery strength as evidenced by the increasing global market cap. The global market cap has recorded a 4.7% jump over the last 24 hours to stand at $2.31T while the trading volume also jumped by 15% to stand at $151.3B as of the same period.

Bitcoin Price Review

Bitcoin (BTC) is also having a good session today, showing some recovery. The Bollinger Bands, MACD, and a 20-period Simple Moving Average (SMA). The Bitcoin price has increased significantly, closing above the 20-period SMA, indicating a potential reversal or bullish movement.

The Bollinger Bands are starting to expand, which could suggest increasing volatility. The MACD is now above the signal line, indicating that the downward momentum is slowing down. As of press time, the

price stood at $66,423, representing a 2.6% pump from its previous 24-hour price.

4-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) also showed some recovery in today’s session, as the altcoin posted some notable gains. The

price is below the Ichimoku Cloud, typically a bearish signal. There has been a recent upturn with the price moving towards the cloud, suggesting a potential trend reversal if it breaks into the cloud.

The Volume Oscillator is negative, indicating that volume decreases on up moves, which could signify weakening bullish momentum. As of press time, the Ethereum price stood at $3,243, representing a 4.6% pump from its previous 24-hour price.

4-hour ETH/USD Chart | Source: TradingView

Neo Price Review

Neo (NEO) is among today’s top gainers, as the altcoin posted remarkable gains. An in-depth analysis shows that the NEO price is currently at the upper boundary of the Pitchfork, suggesting potential resistance.

On the other hand, the ADX value is high at around 26.92, indicating a strong trend. This trend could be upward since the price is at the upper boundary of the pitchfork. As of press time, the Neo price stood at $23.04, representing a 36.3% pump from its previous 24-hour price.

4-hour NEO/USDT Chart | Source: TradingView

Ondo Price Review

In today’s session, Ondo (ONDO) is another gainer, managing some notable gains. Looking at an in-depth analysis, we notice that the Supertrend is green and below the price, signaling a bullish trend.

On the other hand, the RSI is above 50 and heading towards overbought territory, which can indicate strong bullish momentum but also warns of a potential retracement if the RSI becomes too high. As of press time, the Ondo price stood at $0.9736, representing a 27% pump from its previous 24-hour price.

4-hour ONDO/USDT Chart | Source: TradingView

Pendle Price Review

Pendle (PENDLE) was another gainer in today’s session, as the altcoin also managed some notable gains. Looking at in-depth analysis, we notice that the Pendle price is above the Alligator’s mouth (the three smoothed moving averages), which is generally bullish.

On the other hand, the MFI is just under 50, suggesting balanced buying and selling pressure. An MFI below 20 would indicate oversold conditions, while above 80 would suggest overbought conditions. During writing, the Pendle price stood at $6.75, representing a 15.6% pump from its previous 24-hour price.