Daily Market Review: BTC, ETH, RNDR, NEAR, SOL

The bulls are in total control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.26T as of press time, representing a 2.66% increase over the last 24 hours, while the trading volume jumped by 50% over the same period to stand at $87B as of press time.

Bitcoin Price Review

Bitcoin, $BTC, is not posting gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the Bitcoin price is currently moving towards the upper band, suggesting an overbought condition. A pullback may occur if the price fails to break through the upper band.

On the other hand, we see that the Volume Oscillator is currently negative, indicating decreasing trading volume, which may signal weakening momentum. Bitcoin traded at $63.888 as of press time, representing a 0.5% decrease over the last 24 hours.

4-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum, $ETH, 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 Ethereum price is above the Ichimoku Cloud, with the Tenkan-sen (conversion line) above the Kijun-sen (baseline), indicating a strong bullish trend. The future cloud is also green, reinforcing bullish sentiment.

On the other hand, we see that the RSI is above 70, suggesting an overbought condition. A potential pullback may occur if the RSI continues to stay in the overbought territory. Ethereum traded at $2,736 as of press time, representing a 0.82% decrease over the last 24 hours.

Render Price Review

Render, $RNDR, is also a gainer in today’s session as seen from its price movements, looking at an in-depth analysis, we see that the Supertrend indicator is currently showing a buy signal, indicating a bullish trend. However, the price is showing signs of rejection near the upper level.

On the other hand, we see that the Volume Oscillator is slightly negative, suggesting a potential decrease in buying pressure or weakening momentum. Render traded at $6.14 as of press time, representing a 4.85% increase over the last 24 hours.

4-hour RNDR/USDT Chart | Source: TradingView

NEAR Price Review

NEAR Protocol, $NEAR 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 price is moving within the upward pitchfork channel, suggesting a bullish trend. The recent price action indicates a pullback from the upper channel line.

On the other hand, we see that the MFI is around 79, indicating overbought conditions. This suggests a potential pullback or consolidation in the near term. NEAR Protocol traded at $4.83 as of press time, representing a 0.73% increase over the last 24 hours.

4-hour NEAR/USDT Chart | Source: TradingView

Solana Price Review

Solana, $SOL, 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 Solana price is moving within the upward pitchfork channel, suggesting a bullish trend. The recent price action indicates a pullback from the upper channel line.

On the other hand, MFI is around 79, indicating overbought conditions. This suggests a potential pullback or consolidation in the near term. Solana traded at $157.25 as of press time, representing a 0.91% increase over the last 24 hours.

4-hour SOL/USD Chart | Source: TradingView

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