Bitcoin (BTC) Price Review: BTC Has Broken Out of the Falling Wedge, Signaling a Potential Bullish Continuation

The bulls are in control in today's session, as seen from the increase in the global market cap. The total cap stood at $3.24T as of press time

The bulls are leading the charge in today's session, evident in the rise of the global market cap. At press time, the total cap stands at $3.24T, marking a 1.30% increase over the last 24 hours. Meanwhile, trading volume has also seen a significant jump, rising by 6.47% over the same period to reach $90.45B.

Bitcoin Price Analysis

Bitcoin ($BTC) has posted modest gains in today's session, as observed in its price movements. Analyzing the price action further, we can see that BTC has broken out of the falling wedge, indicating a potential continuation of the bullish trend. The measured move from the wedge suggests a price target near $104,000.

On the other hand, the RSI indicates bullish momentum with a value of 62.99, showing that BTC is not yet in overbought territory. At press time, Bitcoin is trading at $98,407, reflecting a 1.55% increase over the last 24 hours.

Ethereum Price Analysis

Among today's gainers is also Ethereum ($ETH), evident in its price movements. Taking a closer look at the price action, we can see that ETH is trading in a sideways consolidation phase, with moving averages from the Alligator Indicator converging.

Meanwhile, the Awesome Oscillator (AO) is slightly positive, indicating weak bullish momentum. On the other hand, the Alligator Indicator suggests a potential breakout if the price moves above $2,800. At press time, Ethereum is trading at $2,759, showing a 1.09% increase over the last 24 hours.

Maker Price Analysis

Maker ($MKR) is also among the gainers in today's session, as evident in its price movements. Analyzing the price action further, we can see that MKR recently flipped to a strong buy signal after breaking out above $1,250.

On the other hand, the MFI is at 80.66, indicating overbought conditions, which could lead to a potential short-term correction. At press time, Maker is trading at $1,415, reflecting a 16.3% increase over the last 24 hours.

Jito Price Analysis

Jito ($JTO) is also showing strong gains in today's session, as observed in its price movements. Analyzing the price action further, we can see a strong breakout above all moving averages, indicating a bullish continuation.

Moreover, a sharp increase in the Volume Oscillator (43.59%) confirms the breakout. At press time, Jito is trading at $3.19, reflecting a 20.67% increase over the last 24 hours.

SPX6900 Price Analysis

Among today's gainers is also SPX6900 ($SPX), evident in its price movements. Analyzing the price action further, we can see a strong breakout above all moving averages, suggesting bullish continuation.

On the other hand, a sharp increase in the Volume Oscillator (43.59%) confirms the breakout. At press time, SPX6900 is trading at $0.7624, reflecting a 16.6% increase over the last 24 hours.