The bear are still holding firm on to the markets, as seen from the continous decrease in the global market cap. The total cap stood at $2.15T as of press time, representing a 0.29% decrease over the last 24 hours, while the trading volume also dropped by 44.19% over the same period to stand at $36.8B 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 analysis, we see that the Alligator indicator shows that Bitcoin is moving into a consolidation phase, with the lines converging, indicating a lack of trend strength at the moment. The Bitcoin price has been oscillating above and below the green Alligator line (medium trend) without making strong breakout moves.
On the other hand, we see that the Volume is decreasing, as seen by the Volume Oscillator at -42.15%, indicating that there is little interest from buyers or sellers at the current price. Bitcoin traded at $61,395 as of press time, representing a 5.44% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has also failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that Ethereum is consolidating within the Bollinger Bands after a recent sharp drop. The bands are starting to contract, suggesting lower volatility in the short term.
On the other hand, we see that the MFI is at 79.24, indicating that ETH is in the overbought territory. This could signal a possible price retracement in the near future. Bitcoin traded at $2,418 as of press time, representing a 8.8% decrease over the last 24 hours.
FTX Token Price Review
FTX Token, $FTT, is among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that FTX Token had a sharp breakout recently, evidenced by the large green candlesticks and the Supertrend indicator turning bullish. However, the current candlesticks are red, and the price is testing the support of the Supertrend level at $2.0582.
On the other hand, we see that the Awesome Oscillator shows diminishing momentum, as seen in the shorter green bars turning to red. This suggests that the bullish move may be weakening, and FTT could see a pullback to the $2.05 region if support is broken. FTX Token traded at $2.61 as of press time, representing a 9.7% increase over the last 24 hours.
Conflux Price Review
Conflux, $CFX, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, Conflux is trading inside the Ichimoku Cloud, which suggests indecision and lack of trend clarity.
On the other hand, we see that the MFI is at 74.29, indicating the market is nearing the overbought zone. This suggests potential downside risk if buyers start to take profits. Conflux traded at $0.1814 as of press time, representing a 5.2% increase over the last 24 hours.
Litecoin Price Review
Litecoin, $LTC, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, Litecoin is trading above all three moving averages (50, 100, 200), signaling a strong uptrend. The crossover of shorter moving averages above the longer ones reinforces the bullish sentiment.
On the other hand, we see that the ADX is at 22.42, showing that the current trend lacks strength. This could indicate that while the uptrend is in place, it’s not yet gaining significant momentum. Litecoin traded at $66.69 as of press time, representing a 1.95% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-ftt-cfx-ltc/