Daily Market Review: BTC, ETH, BONK, LINK, ICP

Bulls have control of the markets as seen from the increasingly global market cap which has leapt by 0.2% in the last 24 hours to stand at 1.77T while the trading volume stood at $68.1B, representing an 8% leap within the same period.

Bitcoin Price Review

Analyzing 2-hour BTC/USD charts, we see Bitcoin (BTC) exhibiting a stable upward trend within a rising pitchfork pattern, suggesting a bullish sentiment. The latest candlesticks remain above the median line of the pitchfork, indicating sustained buying interest. 

The Money Flow Index (MFI) is moderately high at 59.14, signaling continued investment and potentially overbought conditions on the *BTC*.

Currently, at $48.2K, the Bitcoin price is 2% above its previous 24-hour price.
BTC 2-hour chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) has been trading within the ‘Supertrend’ indicator’s positive zone, maintaining an upward trajectory. The Relative Strength Index (RSI) is steady around 60, which is typically a sign of bullish momentum on the *ETH* without being overextended.

The Ethereum price traded at $2,524 as of press time representing a 1.25 increase within the last 24 hours.

ETH 2-hour chart | Source: TradingView

Bonk Price Review

BONK token shows a significant increase in value, with a sharp uptick in the Moving Average Convergence Divergence (MACD), indicating strong buying momentum. However, the recent red candlesticks could suggest the beginnings of a possible pullback as traders might start taking profits.

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As of press time, the Bonk price stood at $0.00001336, representing a 3.8% increase from its previous 24-hour price. The trading volume has, however, dropped by 34% to $202M within the same period.

BONK 2-hour chart | Source: TradingView

Chainlink Price Preview

ChainLink (LINK) has seen a recent surge, breaking out from a period of consolidation as shown by the ‘Alligator’ indicator. The Volume Oscillator is high at 12.88%, indicating a strong volume behind the price increase, which may support the sustainability of the current trend.

As of press time, the Chainlink price stood at $20.39, representing an 11.3% increase from its previous 24-hour price. The trading volume has jumped by 44% to $752M within the same period.

LINK 2-hour chart | Source: TradingView

Internet Computer Price Review

Internet Computer Protocol (ICP) is trending upwards within the Bollinger Bands, which suggests that the current trend is strong with the price trading near the upper band. The Average Directional Index (ADX) is moderately strong at 27.74, indicating a growing trend strength.

As of press time, the Internet Computer price stood at $13.23, representing a 3.9% increase from its previous 24-hour price. The trading volume has dropped by 5% to $106M within the same period.

ICP 2-hour chart | Source: TradingView