The bears are still in total control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.03T as of press time, representing a 0.20% decrease over the last 24 hours, while the trading volume also dropped by 16.7% over the same period to stand at $59.04B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth, we see that the chart shows Bitcoin trading slightly above $57,800 with a moderate bullish sentiment as indicated by the upward slope of the 50, 100, and 200-period simple moving averages (SMAs). The price is consolidating near the 50-period SMA, which may act as immediate support.
On the other hand, we see that the Volume oscillator shows a decline, indicating weakening momentum, and the price is likely to test nearby support levels at $57,605 and $57,089. A breakdown below these levels could bring the 200-period SMA into play as the next support at $56,117. Bitcoin traded at $57,918 as of press time, representing a 0.02% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the price has touched the upper boundary of the cloud, acting as resistance. However, it is currently trading close to $2,342, with the Money Flow Index (MFI) at 72.81, suggesting an overbought condition.
If the MFI falls further, we could see a retracement toward the $2,336 support level. On the upside, breaking the $2,351 resistance could fuel a rally. Ethereum traded at $2,344 as of press time, representing a 0.72% decrease over the last 24 hours.
Quant Price Review
Quant, $QNT, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Quant is displaying a strong upward trend, as shown by the price riding along the upper band of the Bollinger Bands. The price is currently around $76.8, with the Awesome Oscillator showing positive momentum, though a decrease in green bars indicates that momentum is slowing.
On the other hand, we see that the nearest support lies around the middle Bollinger Band at $75.2. A pullback toward this level could provide a better entry, while resistance stands at the upper band near $79.3. Quant traded at $76.63 as of press time, representing a 7.99% increase over the last 24 hours.
Ripple Price Review
Ripple, $XRP, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth, we see that XRP is exhibiting bullish behavior after a recent price spike to $0.570, followed by a slight pullback. The Alligator indicator shows the lines widening, indicating a continued bullish trend, although the momentum seems to have decreased slightly as the price hovers around $0.563.
The Woodies CCI is mixed, suggesting some indecision. If the price holds above $0.5646, further upside is possible, while a break below the $0.5582 support could lead to a deeper correction. Ripple traded at $0.562 as of press time, representing a 4.92% increase over the last 24 hours.
MANTRA Price Review
MANTRA, $OM, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth, we see that OM/USDT is currently experiencing a slight pullback from its recent highs around $1.13. The Supertrend indicator suggests that support lies near $1.10, with the Volume Oscillator indicating reduced trading volume, which may slow further upward movement.
A breakdown of $1.1097 support could see the price drop towards the $1.05 region, while a bullish reversal would require overcoming $1.1331 to regain momentum. MANTRA traded at $1.12 as of press time, representing a 3.81% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-qnt-xrp-om/