The bears are in total control of today’s session, as seen from the decrease in the global market cap. The total cap stood at $3.27T as of press time, representing a 2.41% decrease over the last 24 hours, while the trading volume dropped by 12% over the same period to stand at $161.52B as of press time
Bitcoin Price Review
Bitcoin, $BTC, posted a notable drop in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is testing the lower Bollinger Band, indicating bearish momentum. This could suggest oversold conditions and a potential bounce back if buyers step in. The bands are widening, signaling increased volatility.
On the other hand, we see that the ADX is at 38.58, showing a strong trend. Since the trend is currently bearish, it indicates the downward move has strength. Bitcoin traded at $93,427 as of press time, representing a 2.55% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has also failed to post notable gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the 50 SMA is below the 100 and 200 SMAs, showing a bearish trend. The price is trading below all moving averages, confirming bearish sentiment.
On the other hand, we see that the Volume Oscillator shows negative volume oscillation (-21.93%) indicates a lack of buying interest, which could further weigh on price. Ethereum traded at $3,321 as of press time, representing a 1.43% decrease over the last 24 hours.
XDC Network Price Review
XDC Network, $XDC, is among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Kaspa price is below the cloud, indicating a bearish trend. The future cloud is red, reinforcing the bearish outlook.
On the other hand, we see that the ADX is at 27.28, showing a moderate trend. This indicates bearish strength, but the momentum could weaken soon. XDC Network traded at $0.09374 as of press time, representing a 3.05% increase over the last 24 hours.
Kaspa Price Review
Kaspa, $KAS, 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 Kaspa price is below the cloud, indicating a bearish trend. The future cloud is red, reinforcing the bearish outlook.
On the other hand, we see that the ADX Indicator is at 27.28, showing a moderate trend. This indicates bearish strength, but the momentum could weaken soon. Kaspa traded at $0.115 as of press time, representing a 2.38% increase over the last 24 hours.
Neo Price Review
Neo, $NEO, 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 currently bearish with the supertrend line acting as resistance at $15.73. The NEO price is attempting to recover but remains below critical resistance.
On the other hand, we see that the Money Flow Index (MFI) is at 36.07 indicates oversold conditions, suggesting potential buying opportunities if volume picks up. NEO traded at $14.88 as of press time, representing a3.77% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-xdc-kas-neo/