Bears have control of the markets, as seen from the global market cap, which has dropped by 1.5% from its previous 24-hour one, as the total cap stood at $1.62T as of press time. The fear and greed index is 57, indicating a neutral market.
Bitcoin Price Analysis
However, Bitcoin (BTC) has failed to post gains today as the Bitcoin price stood at $41K as of press time, representing a 1.4% decrease in the last 24 hours to take the weekly drop to 3.6%. Bitcoin’s trading volume has leaped by 28% over the same period to stand at $13.9B.
An in-depth analysis of 24-hour BTC/USD charts reveals a struggle between bulls and bears. This is seen from the Relative Strength Index on a southern trajectory, showing bear momentum on BTC. The MACD indicator, on the other hand, is reverting towards the green zone, showing bull action on the Bitcoin price as well.
Ethereum Price Analysis
Ethereum (ETH), the number two cryptocurrency, has also failed to post gains today as the Ethereum price stood at $2421 as of press time, representing a 2% decrease in the last 24 hours as the weekly drop stood at 3.4%. The trading volume has jumped by 34% to $6.6B.
An in-depth analysis of 24-hour ETH/USD charts also shows that bears control ETH markets, as shown by the Relative Strength Index indicator, which is currently on a southern trajectory. This asserts selling pressure on the Ethereum price. On the other hand, the MACD indicator is moving in the red zone, backing bearish prospects on the Ethereum price as the asset looks to keep plunging.
Manta Network Price Analysis
Manta Network (MANTA) is among the few gainers today, as the Manta Network price stood at $2.45 as of press time, representing a 2.2% increase in the last 24 hours as the weekly rise stood at 7.3%. The trading volume has jumped by 91% to $460M.
However, analyzing 2-hour MANTA/USDT charts, we see that the token is headed towards a correction. This is seen from the MACD reverting towards the red zone. The Relative Strength Index indicator is also headed for the oversold region, asserting the looming corrections on the token.
Myro Price Analysis
Myro (MYRO) is another gainer today as the Myro price stood at $0.23 as of press time, representing a 22% increase in the last 24 hours as the weekly rise stood at 60%. The trading volume has dropped by 4.7% to $44.5M.
An in-depth analysis of 1-day MYRO/USD charts shows bull dominance on MYRO markets, as shown by the Relative Strength Index indicator, which is currently on a northern trajectory while in the overbought region. However, considering the meme coins’ overbought status, a pullback on the Myro price could be soon en route as shown by the MACD indicator, which is now reverting towards the red zone.
Huobi Token Price Analysis
Huobi Token (HT) is our last gainer today, as the Houbi Token price stood at $1.8 as of press time, representing a 3.6% increase in the last 24 hours as the weekly drop stood at 28%. The trading volume has dropped by 89% to $3.5B.
An in-depth analysis of the HT/USDT charts shows bulls are in control of HT markets, as shown by the Relative Strength Index indicator, which is currently on a northern trajectory as it heads for the overbought region. This asserts buying pressure on the token as the MACD indicator also moves towards the green zone, backing bullish prospects on the Huobi Token price.
Source: https://blockchainreporter.net/daily-analysis-btc-eth-manta-myro-ht/