Bears are showing massive dominance in today’s session, as seen from the drop in the global market cap. The total cap stood at $2.25T as of press time, representing a 4.2% drop over the last 24 hours, while the trading volume stood at $69.7B, representing a 124.7% jump over the last 24 hours.
Bitcoin Price Review
As seen from its price movements, Bitcoin (BTC) has failed to post gains in today’s session. An in-depth analysis shows that the Supertrend indicator is red, indicating a bearish trend. The price has been moving below the Supertrend line, reinforcing the bearish sentiment.
On the other hand, the RSI is close to the oversold region, indicating potential buying opportunities if the price reverses. As of press time, Bitcoin traded at $61,167, representing a 4.8% decrease over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) is also not a gainer in today’s session, as evidenced by its price movements. An in-depth analysis shows that the Ethereum price has broken below the lower Bollinger Band, indicating high volatility and a potential reversal.
On the other hand, the ADX is above 25, indicating a strong trend. Currently, the trend is bearish. As of press time, Ethereum traded at $3,302, representing a 5.2% decrease over the last 24 hours.
Ripple Price Review
Ripple (XRP) has also failed to post gains in today’s session, as evidenced by the price movements. An in-depth analysis shows that the Ripple price is below the Ichimoku Cloud, indicating a bearish trend. The cloud itself is red, reinforcing the bearish sentiment.
On the other hand, the Woodies Commodity Channel Index (CCI) shows negative values, indicating bearish momentum. As of press time, Ripple traded at $0.4798, representing a 0.73% decrease over the last 24 hours.
Immutable Price Review
As seen from its price movements, Immutable (IMX) is also not a gainer in today’s session. An in-depth analysis of ImmutableX shows that the Alligator indicator shows the mouth opening downward, indicating a bearish trend.
On the other hand, the Volume Oscillator shows low values, indicating decreasing trading volume. As of press time, Immutable traded at $1.47, representing a 3.4% decrease over the last 24 hours.
BakeryToken Price Review
BakeryToken (BAKE) is another loser in today’s session, as seen from its price movements. An in-depth analysis of BakeryToken price charts shows that the price has broken below the lower line of the Pitchfork, indicating a strong bearish trend.
On the other hand, looking at other indicators, we see that the RSI is in the oversold region, indicating potential buying opportunities if the price reverses. As of press time, BakeryToken traded at $0.2797, representing a 19.82% decrease over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-xrp-imx-bake/