The bears are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.96T as of press time, representing a 0.42% decrease over the last 24 hours, while the trading volume dropped by 23% over the same period to stand at $203.1B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is fluctuating near the upper Bollinger Band, suggesting a potential bullish momentum but also nearing overbought levels.
On the other hand, we see that the AO shows a transition in momentum with alternating green and red bars, indicating a period of consolidation. Bitcoin traded at $89,527 as of press time, representing a 0.04% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has failed to post gains in today’s session as seen from its price movements. Looking at an in-depth analysis we see that ETH’s price is consolidating around the 50-day SMA, which acts as immediate resistance. The 100 and 200 SMAs are positioned lower, indicating overall support below the current price.
On the other hand, we see that the MFI is at 32.31, showing low buying interest, and ETH may be nearing an oversold region, which could hint at a reversal. Ethereum traded at $3,026 as of press time, representing a 3.1% decrease over the last 24 hours.
Algorand Price Review
Algorand, $ALGO, is among the gainers in today’s session among the gainers in today’s session. Looking at an in-depth analysis, we see that ALGO is above the Ichimoku Cloud, a bullish sign, with the price moving higher and expanding from the cloud.
On the other hand, we see that the ADX is at 29.49, indicating a strong trend, although it hasn’t reached extreme levels, suggesting the trend might continue. Algorand traded at $0.1796 as of press time, representing a 21.46% increase over the last 24 hours.
Cardano Price Review
Cardani, $ADA, 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 Alligator lines (moving averages) are diverging upward, signaling a strong uptrend.
On the other hand, we see that the Volume Oscillator indicates a slight increase in volume, supporting the trend’s momentum. Cardano traded at $0.6643 as of press time, representing an 18.5% increase over the last 24 hours.
Flare Price Review
Flare, $FLR, 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 Supertrend has turned green, suggesting a buy signal as FLR moves into an uptrend.
On the other hand, we see that the RSI is at 67.31, approaching overbought levels, which could indicate exhaustion in the short term. Flare traded at $0.02216 as of press time, representing a 57.6% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-algo-ada-flr/