The bears are now gaining back control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.54T as of press time, representing a 2.54% decrease over the last 24 hours, while the trading volume also jumped by 60.15% over the same period to stand at $57.78B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed posted gains in today’s session, as seen from its price movements. Looking at an in-depth, the Bitcoin price is currently hovering near the lower Bollinger Band, which suggests Bitcoin might be in an oversold state. This could indicate potential support around $57,942, where it recently bounced. The middle band (20 SMA) at $59,521 provides resistance, while the upper band at $61,099 might be a target if the price can gain upward momentum.
On the other hand, we see that the RSI is hovering around 49, which indicates neutral momentum. The lack of clear overbought or oversold conditions reflects indecision in the market. Bitcoin traded at $58,829 as of press time, representing a 2.11% 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’s lines (blue, red, green) have intertwined, which typically indicates a lack of clear trend or consolidation. However, Ethereum recently tested and fell below the alligator’s lips, signaling possible bearish momentum.
On the other hand, we see that the MFI is at an extremely low level (13.70), which suggests that Ethereum is oversold. This could indicate a potential reversal if buying pressure increases. However, if the MFI continues to remain low, it could signal persistent weakness. Ethereum traded at $2,330 as of press time, representing a 3.48% decrease over the last 24 hours.
Sui Price Review
Sui, $SUI, is among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Sui has recently moved above the Ichimoku cloud, indicating potential bullish momentum. The cloud below provides support around $1.0734, and if the price remains above the cloud, it may continue the upward trajectory.
On the flip side, we see that the MFI is at 60.27, suggesting healthy buying pressure. It’s not in overbought territory yet, so the upward momentum might continue, but traders will watch for a move above 80, which could signal overbought conditions. Sui traded at $1.11 as of press time, representing a 4.89% increase over the last 24 hours.
Fantom Price Review
Fantom, $FTM, is among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Supertrend indicator and the Average Directional Index (ADX). The Supertrend line is showing a bullish signal as the price trades above it (green zone). However, the recent pullback toward $0.4727 suggests that this level will be an important support zone. A break below it could turn the trend bearish.
On the other hand, we see that the ADX is at 24.71, which indicates a trend is present, but it’s not very strong yet. If the ADX rises above 25, the strength of the current trend could increase, whether bullish or bearish. Fantom traded at $0.5115 as of press time, representing a 4.24% increase over the last 24 hours.
Helium Price Review
Helium, $HNT, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, the Helium price has recently dipped into the lower bounds of the pitchfork, signaling a bearish channel forming on the chart. The upper limit of the pitchfork suggests resistance around $7.50, while the lower boundary extends down to approximately $6.00.
On the other hand, we see that the ADX is at 15.15, which indicates a very weak trend in the current market. Low ADX values suggest that the market is either in consolidation or lacking clear momentum in either direction. Helium traded at $7.39 as of press time, representing a 2.61% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-sui-ftm-hnt/