The bears are still in total control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $1.89T as of press time, representing a 0.3% decrease over the last 24 hours, while the trading volume jumped by 55.32% over the same period to stand at $55.91B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the bands are slightly expanding, suggesting increasing volatility. The price is closer to the lower band, which could indicate a potential bounce back toward the middle band (20 SMA).
On the other hand, we see that the Woodies CCI is currently below zero, indicating bearish momentum. The indicator is fluctuating around the -43 level, suggesting that the market is bearish, but not heavily oversold. Bitcoin traded at $57,579 as of press time, representing a 1.27% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has also failed to post gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Alligator lines are intertwined, indicating a lack of clear trend direction or a consolidation phase. The lines’ convergence suggests a low volatility phase.
On the other hand, we see that the RSI is below the 50 level, indicating bearish momentum. It is currently around 44, suggesting that the market is not heavily oversold yet but is leaning towards bearish sentiment. Ethereum traded at $2,449 as of press time, representing a 1.39% decrease over the last 24 hours.
Helium Price Review
Helium, $HNT, is however among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the indicator has shifted to green, suggesting a bullish trend. The price is hovering around the Supertrend line, which acts as dynamic support and resistance.
On the other hand, we see that the Volume Oscillator shows a declining volume trend, indicating a potential slowdown in momentum. Helium traded at $7.35 as of press time, representing a 4.89% increase over the last 24 hours.
Ripple Price Review
Ripple, $XRP, is not among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, the cloud is red and price is below the cloud, suggesting bearish sentiment. The Tenkan-sen (conversion line) and Kijun-sen (base line) are also above the price, reinforcing bearish momentum.
On the other hand, we see that the ADX is at 45, indicating a strong trend. Since the price is below the Ichimoku Cloud, this suggests a strong bearish trend. Ripple traded at $7.35 as of press time, representing a 1.6% decrease over the last 24 hours.
Monero Price Review
Monero, $XRM, 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 Monero price is respecting the Pitchfork boundaries, indicating the channel is valid. The current price action suggests a potential move towards the upper boundary if the middle line acts as support.
On the other hand, we see that the Woodies CCI is slightly negative but showing signs of recovery, suggesting weakening bearish momentum. Monero traded at $168.83 as of press time, representing a 1.59% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-hnt-xrp-xrm/