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Cryptocurrency News Articles
Bitcoin, Ethereum, ApeCoin, dYdX, Cat in a dogs world Price Analysis and Review
Oct 21, 2024 at 04:30 pm
The bulls are in control of today's session, as seen from the increase in the global market cap.
Global market cap rises by 1.36% to stand at $2.38T, as bulls drive the session higher. Here are the key price movements of BTC, ETH, APE, DYDX, and MEW.
Bitcoin (BTC) shows a bullish trend as it is consistently trading above the 20-day Simple Moving Average (SMA). The price is also above both the upper and lower bands of the Bollinger Band indicator. This suggests a strong buying momentum. However, the Awesome Oscillator (AO) shows green bars, although they’re decreasing in height, indicating potential slowing momentum despite the bullish trend.
Bitcoin trades at $68,637 with a 0.35% increase over the last 24 hours.
Ethereum (ETH) also shows a bullish pattern as it has recently moved above its 100-day SMA. The price is generally oscillating between the 50-day and 200-day SMAs. This indicates a potential consolidation phase before a further move.
On the other hand, the Relative Strength Index (RSI) is above 60, which leans towards overbought territory but still supports the bullish sentiment.
Ethereum trades at $2,727 with a 3.01% increase over the last 24 hours.
ApeCoin (APE) shows a significant recent upsurge, breaking above the Alligator indicator’s lines, which is a bullish signal. This sudden spike suggests a strong buying interest.
However, the Average Directional Index (ADX) points above 40, indicating a very strong trend in place. The negative slope of the ADX suggests the trend might be losing some strength.
ApeCoin trades at $1.49 with a 20.29% increase over the last 24 hours.
dYdX (DYDX) has had a bullish breakout evident from the sharp upward movement through the Ichimoku cloud, which is traditionally a bullish indicator.
On the other hand, the Awesome Oscillator (AO) shows rising green bars, confirming the strength of the current bullish momentum.
dYdX trades at $1.22 with a 20.98% increase over the last 24 hours.
Cat in a dogs world (MEW) displays a robust bullish rally, confirmed by its recent sharp rise, and is now trading well above the Ichimoku Cloud.
However, the Money Flow Index (MFI) is above 70, indicating that the asset may be overbought, which could lead to a potential pullback or consolidation.
Cat in a dogs trades at $0.00976 with a 13.80% increase over the last 24 hours.
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