Daily Market Review: BTC, ETH, ONDO, FLOKI, AXL

Bulls are back in control of todya session as seen from the rising global market cap. Standing at $2.54T as of press time, representing a 8.2% increase over the last 24 hours. On the other hand, the trading volume has dropped by 12.6% to $155.69B as of the same period.

Bitcoin Price Review

Bitcoin (BTC), having previously dip to below $63K, is now in a recovery run as seen from todays price pump. The Bollinger Bands are narrowing, which typically indicates a decrease in volatility and may precede a significant price movement. The Bitcoin price has recently crossed above the 20-period Simple Moving Average (SMA), suggesting a potential uptrend.

On the other hand, the Moving Average Convergence Divergence (MACD) is below the signal line but appears to be converging towards it, indicating that bearish momentum may be waning. The Bitcoin price stood at $67.2K as of press time representing a 7.4% surge over the last 24 hours.

4-hour BTC/USD Chart

Ethereum Price Review

Ethereum (ETH), has also managed to post gains in todays sessionas markets recover in general. The Ethereum price is between the jaws of the Alligator indicator, implying a potential for range-bound movement. However, the Relative Strength Index (RSI) has risen sharply towards the 55 level, suggesting increasing buying pressure.

The overall trend appears to be bearish as indicated by the price being below the Alligators lines, but the recent upward RSI movement suggests a potential reversal or pullback. The Ethereum price stood at $3,528 as of press time representing a 10.8% pump over the last 24 hours.

4-hour ETH/USD Chart

Ondo Price Review

Ondo (ONDO) has emerged as the top gainer amid today‘s bull market. Looking at chart’s, we notice that the SuperTrend indicator is green and below the Ondo price, indicating a bullish trend. The Awesome Oscillator (AO) is positive and increasing, suggesting growing bullish momentum.

The Ondo price has been rising steadily amid today‘s bull market, and the AO’s green bars support the continuation of this trend. The Ondo price stood at $0.7326 as of press time representing a 37.2% pump over the last 24 hours.

4-hour ONDO/USDT Chart

FLOKI Price Review

FLOKI (FLOKI) has also taken center stage today as the meme coin also posts notable gains. The FLOKI price has broken above the Auto Pitchfork median line, indicating massive bullish momentum on the meme coin.

On the other hand, the Average Directional Index (ADX) is above 30, which indicates a strengthening trend; in this case, the recent price action suggests it is an upward trend. The FLOKI price action has been bullish with a significant upswing in the latest candles. As of press time, the FLOKI price stood at $0.0002465 representing a 35.5% pump over the last 24 hours.

Axelar Price Review

Axelar (AXL), warpping up our list, has emerged as the third most top gainer. Looking at charts, we notice that there is a sharp spike in Axelar price, breaking away from the previous sideways movement. The Money Flow Index (MFI) is very high, above 70, indicating overbought conditions, which could precede an Axelar price pullback.

The ADX is rising above 30, which indicates the start of a strong trend, supported by the recent price increase. As of press time, the Axelar price stood at $2.02 representing a 21.9% pump over the last 24 hours.