- BTC is in a bullish sentiment in the last 24-hours.
- Cryptocurrency market has recorded a 65% decrease in market cap during bear market.
- Cryptocurrency market has surpassed $1 trillion market cap in the recent bullish rally.
Following one of the worst years in the history of the cryptocurrency industry, in which its entire market capitalization fell by about 65%, the market has since rebounded in 2023, adding more than $255 billion to its value and regaining $1 trillion in market capitalization for the first time since early November.
CryptoNewsLand has carefully examined the market in order to identify which cryptocurrencies investors should pay attention to in February, given the robust performance of the majority of assets.
Recently, the APT token has been on an upward trend. This has attracted attention from investors and traders who are wondering whether this upward trend will continue in the month of February. At the time of publication, Aptos was trading at $18.15, which is a 6.49% price increase in the last 24 hours. APT has established weekly highs of $19.86 and currently has a trading volume of $1,124,057,558; this is a 6.55% decrease in the last 24 hours. According to data from CoinMarketCap, the price change recorded in APT market in the last 24 hours is +$1.08, indicating that bulls are in control of the market.
A bullish strength is indicated by the MACD line as it is moving above its daily SMA, indicating that the bullish strength might continue in Aptos Market in the coming hours. Currently, the reading of the MACD is 3.3935. This bullish dominance is also indicated by the formation of the trajectory histogram in the positive region, further giving investors and traders an optimistic view of the market.
The Relative Strength Index (RSI) line also denotes bullish dominance in the market as it is moving on the northern face, denoting that a bullish sentiment might continue in APT prices in the near future. However, the RSI indicator has reached the overbought region, which acts as a warning to investors and traders as it indicates bears might soon take over the market.
Shiba Inu (SHIB)
In the last 24 hours, bulls in the SHIB market have dominated the market, leading to prices increasing by 1.86% and now trading at $0.00001203. The bullish strength can also be indicated by the rise in the market cap, which is currently at $0.00001203, up by 2.03 percent from the previous day. Bulls in SHIB have established price support at $0.00001171 and resistance at $0.00001209.
The broadening of the Bollinger Band (BB) in the 24-hour time frame suggests a bullish mood in the SHIB market, implying that the current optimistic sentiment may continue in SHIB market in the upcoming hours. Currently, the upper band is at 0.00001294 and the lower band is at 0.0000916; these levels serve as short-term resistance and support for the SHIB market.
The Average Directional Index (ADX), on the other hand, serves as a warning to investors because it is moving in the southern territory, signaling that a market move may occur in the next few hours. Furthermore, the ADX indicator is around 50, where it has entered the overbought zone, indicating that the SHIB market may have a price reversal in the coming hours; hence, investors should exercise caution before entering the market.
Prices in the HYPER market began the day with an optimistic attitude because the HYPER token was trading at 0.001266, and bulls’ dominance has been in HYPER since the start of the day as they have been trading with a bullish sentiment. As a result of this bullish dominance, the HYPER market has recorded a resistance of 0.001699 in the last 24 hours.
The long-term Moving Average (MA) indicates a bearish attitude in the past 24-hour technical analysis. This can be noticed because the 100-day MA is higher than the 50-day MA, indicating that a bearish attitude may emerge in the HYPER market in the next hours, and thus investors and traders should exercise caution before joining the HYPER market.
Given that the stochastic RSI for HYPER in the 24-hour price chart is currently at 100.00, it suggests that the bullish momentum might continue in HYPER prices in the hours ahead. This gives investors hope that the current bullish sentiment might persist, resulting in bulls setting new highs in the HYPER market.
The Bitcoin (BTC) market has been gaining traction since the start of the new year, as it has been in the hands of the bulls. As a result, bitcoin has reached monthly highs of $23,722.10. BTC was trading at $23,519.42 at the time of writing, a price rise of 2.17% in the previous 24 hours.
A bullish strength is indicated by the Chaikin Money Flow (CMF), which indicates that bullish sentiment might continue in the market in the coming hours. Currently, the value of the CMF is 0.25. This bullish sentiment is further supported by the fact that the CMF is moving in an upward direction.
However, investors and traders should be cautious as the Parabolic SAR indicator has formed an alignment of dots below the candlestick pattern, suggesting that BTC market might soon expect a price reversal as bears might take control of the market.
To summarize, the positive attitude in the aforementioned tokens may continue in the future, and bulls may make new highs in the cryptocurrency market.
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Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.
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- Source: https://cryptonewsland.com/cryptocurrencies-to-skyrocket-in-february/