The Bulls Are in Total Control in Today's Session, as Seen From the Increase in the Global Market Cap

Bitcoin, Ethereum, and other major cryptocurrencies are posting gains in today's session, as seen from their price movements.

The bulls are leading the session today, as evident from the increase in the global market cap. The total cap stood at $3.24T as of press time, showing a 0.93% increase over the last 24 hours, while the trading volume dropped by 30% over the same period to stand at $118.18B as of press time.

Bitcoin Price Analysis

Bitcoin, BTC/USD, is posting gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that Bitcoin is trading around $98,766, with resistance near $98,792 (Alligator’s blue line). BTC has been moving in a choppy range, with a recent downtrend but signs of a potential reversal. The moving averages are beginning to converge, which could signal consolidation before a move.

On the other hand, we see that the MFI is at 49.90, it's neutral, suggesting no strong momentum. Bitcoin is trading at $98,585 as of press time, showing a 1.25% increase over the last 24 hours.

Ethereum Price Analysis

Ethereum, ETH/USD, 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 trading at $2,847, testing the mid-Bollinger Band. The price recently bounced from the lower Bollinger Band (~$2,625) and is attempting a recovery. Volatility is present, but ETH is moving towards the upper band (~$2,900).

On the other hand, we see that the Awesome Oscillator (AO) is showing signs of bullish divergence, indicating a possible short-term upward movement. Ethereum is trading at $2,843 as of press time, showing a 3.46% increase over the last 24 hours.

FTX Token Price Analysis

FTX Token, FTT/USD, has emerged among the day’s top gainers as seen from its price movements. Looking at an in-depth analysis we see that trading at $2.15, near the 50-SMA resistance (~$2.03). FTT is trying to break above its moving averages, which are acting as resistance. The 200-SMA (~$2.36) is a key resistance level.

On the other hand we see that the MFI is at 72.23, approaching overbought territory, signaling potential correction. FTX Token is trading at $2.16 as of press time, showing a 7.84% increase over the last 24 hours.

OFFICIAL TRUMP Price Analysis

OFFICIAL TRUMP, TRUMP/USD, is also among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the token is trading at $19.09, consolidating after a sharp downtrend. The price remains below the Ichimoku Cloud, indicating a bearish trend. Resistance at $22.35, with no clear bullish signs yet.

On the other hand, we see that the ADX is at 25.72, showing weak trend strength. OFFICIAL TRUMP is trading at $18.97 as of press time, showing a 4.82% increase over the last 24 hours.

Litecoin Price Analysis

Finally, we have Litecoin, LTC/USD, which 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 the token is trading at $107.86, facing resistance at $117.61. LTC is bouncing from a recent low, attempting a recovery. The Supertrend shows a bearish trend still dominant unless price clears $117.61.

On the other hand, looking at other indicators, we see that the Volume Oscillator is at -22.94%, indicating weak buying volume. Litecoin is trading at $108.43 as of press time, showing a 5.06% increase over the last 24 hours.