The bulls are still in total control in today’s session, as seen from the increase in the global market cap. The total cap stood at $1.95T as of press time, representing a 0.97% increase over the last 24 hours, while the trading volume also jumped by 19.6% over the same period to stand at $49.05B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has gained to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is moving close to the lower Bollinger Band, which could indicate the market is oversold. However, a bounce from the lower band suggests a possible upward correction or sideways movement. The middle line, a simple moving average, offers resistance at $54,586.
On the other hand, we see that the RSI (Relative Strength Index) is at 46.14, just below the midpoint of 50, signaling weak momentum but not yet oversold. A break above 50 could confirm a stronger recovery. Bitcoin traded at $54,824 as of press time, representing a 0.98% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has also posted gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the three moving averages are in a bearish alignment (Lips < Teeth < Jaw), indicating the downtrend is still active, though the lines are converging, signaling potential trend exhaustion.
On the other hand, we see that the Awesome Oscillator (AO) is in negative territory but shows declining bearish momentum, with the bars moving closer to zero. This could suggest a possible reversal if positive momentum builds. Ethereum traded at $2,298 as of press time, representing a 0.53% increase over the last 24 hours.
Quant Price Review
Quant, $QNT, 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 Quant price has broken out above the Ichimoku cloud, signaling a bullish trend. Support is likely to be found at $63.9 (lower boundary of the cloud), while the current price around $70.9 is testing key resistance.
On the other hand, we see that the Woodies CCI (Commodity Channel Index) has a value of 102.9, indicating the asset is in overbought territory. A correction could be imminent if the price fails to break resistance convincingly. Quant traded at $71.21 as of press time, representing a 4% increase over the last 24 hours.
Fantom Price Review
Fantom, $FTM, is also another gainer in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Supertrend has flipped to green, indicating a buy signal, with the price above both the Supertrend line ($0.3891) and key support levels. This bullish crossover suggests further upward potential.
On the other hand, we see that the ADX (Average Directional Index) is at 21.21, which indicates weak trend strength. This could mean the current move lacks momentum and may require more confirmation. Fantom traded at $0.4342 as of press time, representing a 6.2% increase over the last 24 hours.
Cosmos Price Review
Cosmos, $ATOM, is also among the gainers today as also seen from the price movements. Looking at an in-depth analysis, we see that the Cosmos price is trading along the lower boundary of the pitchfork channel after a significant downtrend. A recent rebound suggests a potential upward movement towards the middle of the channel.
On the other hand, we see that the ADX stands at 43.60, indicating strong trend strength, which could signify the end of the recent downtrend and the beginning of a correction or new upward move. Cosmos traded at $0.4342 as of press time, representing a 6.2% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-qnt-ftm-atom/