The bears are in total control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.24T as of press time, representing a 0.5% decrease over the last 24 hours, while the trading volume dropped by 13% over the same period to stand at $51B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, is not posting gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the price is currently near the upper Bollinger Band, indicating it has recently been in an uptrend but is now showing signs of potential consolidation or minor retracement. The bands are widening, which suggests increased volatility.
On the other hand, we see that the MACD line is slightly above the signal line but is starting to flatten out, which could suggest a potential slowdown in the bullish momentum. The histogram is decreasing, indicating weakening momentum. Bitcoin traded at $63,818 as of press time, representing a 0.32% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also not among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Alligator lines (jaw, teeth, and lips) are currently intertwined and show signs of crossing each other, indicating a lack of a strong trend direction (possible range-bound or consolidation phase).
On the other hand, we see that the MFI (Money Flow Index) is around 48.33, which is in the neutral zone, neither overbought nor oversold. This suggests no strong momentum in either direction at the moment. Ethereum traded at $2,739 as of press time, representing a 0.2% decrease over the last 24 hours.
Fetch.ai Price Review
Fetch.ai, $FET, is among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Fetch.ai price is currently above the Ichimoku cloud, which is generally a bullish signal. However, the recent candlestick pattern suggests a minor pullback. The cloud ahead is thin, suggesting that while the uptrend may continue, there could be some volatility.
On the other hand, the Volume Oscillator is negative at -7.42%, which might indicate declining volume and potentially less conviction in the current trend. Fetch.ai traded at $1.30 as of press time, representing an 8.7% increase over the last 24 hours.
Bittensor Price Review
Bittensor, $TAO, is not among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Bittensor price is hovering around the supertrend line, indicating potential support. However, recent candlesticks show indecision with wicks on both sides, suggesting market indecision.
On the other hand, we see that the Woodies CCI is hovering around the zero line, indicating a neutral market without clear momentum in either direction. Bittensor traded at $343.15 as of press time, representing a 5.3% increase over the last 24 hours.
Floki Price Review
Floki, $FLOKI, is among the gainers in today’s session as well. Looking at an in-depth analysis, we see that the Floki price is currently moving within the upward channel of the pitchfork, indicating an ongoing uptrend. It is close to the median line, which often acts as a short-term resistance or support.
On the other hand, we see that the Volume Oscillator is slightly negative at -6.43%, suggesting a decrease in trading volume, which could hint at a weakening momentum. Floki traded at $0.0001535 as of press time, representing a 5.37% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-fet-tao-floki/