Daily Market Review: BTC, ETH, GT, BCH, AGIX
As seen from the decreasing global market cap, markets have started on bearish activity. The global market cap stood at $2.6T as of press time representing a 1.25% decrease in the last 24 hours. However, Trading activities have risen from the increasing trading volume, which has jumped by 7.4% to $115 billion.
Bitcoin Market Review
Bitcoin (BTC) has found bullish sentiment as the crypto king exceeds $70K. Looking at bitcoin price charts, we see the ‘Supertrend’ indicator applied, which combines the average true range and the moving averages to determine the trend’s direction. The *BTC* price hovers above the Supertrend line, indicating a bullish trend.
However, the chart also includes Woodie’s CCI (Commodity Channel Index), oscillating around the zero line, suggesting a lack of strong momentum in the current trend. The Bitcoin price stood at $70,370 as of press time representing a 0.83% drop from its previous 24-hour price.
Ethereum Price Review
However, Ethereum (ETH) is still facing consolidation in its market as it posts minimal gains in today’s session. The *ETH* price is trading near the upper Bollinger Band, suggesting it’s in the higher price range relative to recent volatility. The middle band, a 20-period simple moving average, is a potential dynamic support.
The Awesome Oscillator (AO) indicates a recent shift from bearish to bullish momentum, as the histogram moves above the zero line. The Ethereum price stood at $3,572 as of press time representing a slight 0.17% pump over the last 24 hours.
GateToken Price Review
GateToken (GT) has emerged as the top gainer in today’s session. Looking at in-depth analysis, we notice the GateToken price has moved sharply above all the Alligator lines (jaw, teeth, and lips), indicating a strong uptrend.
Additionally, the ADX (Average Directional Index) is above the level of 25, which further suggests a strong trend, with the recent reading being around 39.53, indicating a very strong trend. The GateToken price stood at $11.1 as of press time representing a 29.1% pump over the last 24 hours.
Bitcoin Cash Price Review
Bitcoin Cash (BCH) is today’s second top gainer, posting notable gains. Looking at an in-depth analysis, the Bitcoin Cash price is at the upper end of the pitchfork, which could be seen as an area of resistance.
On the other hand, the MACD histogram shows decreasing momentum, as the bars get shorter, and the MACD line is above the signal line, suggesting bullish momentum but possibly waning. The Bitcoin Cash price stood at $544.7 as of press time representing an 11.3% pump over the last 24 hours.
SingularityNET Price Review
SingularityNet (AGIX) is another gainer today, as it also posted notable gains during today’s session. The SingularityNet price is above the Ichimoku cloud, which is bullish, and it is also above the baseline (kijun-sen) and the conversion line (tenkan-sen), reinforcing the bullish sentiment.
The Money Flow Index (MFI) is relatively high, above 70, indicating that buying pressure has been strong, although it could also suggest overbought conditions which may lead to a pullback or consolidation. The SingularityNET price stood at $1.33 as of press time representing an 10% pump over the last 24 hours.
