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Daily Market Review: BTC, ETH, BONK, AVAX, IMX

  • February 10, 2024

The post Daily Market Review: BTC, ETH, BONK, AVAX, IMX appeared on BitcoinEthereumNews.com.

Today’s market session seems bullish as the global market cap rose by 1% in the last 24 hours to stand at $1.75T as of press time. The trading volume has also risen 8% to 68B as of press time. Bitcoin Price Review Looking at the 2-hour BTC/USD charts, the Supertrend indicator is below the price action, which usually suggests a buy signal. However, the Coppock Curve has turned downwards, suggesting a potential decrease in momentum on the *BTC*.  The recent price candles show a slight pullback, which could indicate a consolidation phase or the beginning of a downturn if the price breaks below the cloud. The Bitcoin price is currently at $46.9K as of press time representing a 0.6 increase in 24 hours. BTC 2-hour chart | Source: TradingView Ethereum Market Analysis Ethereum’s (ETH) price movement is also in an uptrend, supported by the Alligator indicator with its three lines aligned and moving upwards. The recent candlesticks are trading above the Alligator’s jaw (the blue line), reinforcing the bullish trend.  However, the Relative Strength Index (RSI) is above the 50 level. Still, it has turned down from the overbought territory, suggesting that while the trend is bullish, there might be a temporary pullback or consolidation on the *ETH* in the near term. The Ethereum price is currently at 2482 representing a 0.3% increase from its previous 24-hour price. ETH 2-hour chart | Source: TradingView Bonk Price Review Looking at 2-hour BONK/USDT charts, we see a progressive climb with the Moving Average Convergence Divergence (MACD) displaying a bullish crossover and trending above the signal line. However, it is reverting towards the red zone suggesting bearish momentum on the Bonk price. The Average Directional Index (ADX) is above 50, which usually indicates a strong trend. The price action has also pulled back…

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