Daily Market Review: BTC, ETH, LDO, TRX, CHZ
Today’s market session has seen bulls and bears, as seen from the consolidations, which are evidenced by the slight movement in the global market cap. The global market cap stood at $2.26T as of press time, representing a 0.06% drop over the last 24 hours, while the trading volume stood at $36.66B, representing a 44.4% drop over the same period.
Bitcoin Price Review
Bitcoin (BTC) is, however, showing a slight recovery in today’s session, as evidenced by its price movements. Looking at an in-depth analysis, we see that Bitcoin is showing a slight upward trend in the short term, as evidenced by the Ichimoku Cloud turning green ahead of the price. The price recently bounced from the lower boundary of the cloud, indicating potential support.
On the flip side, the Woodies CCI is hovering around the zero line, suggesting a lack of strong momentum either upwards or downwards. However, recent bars show a slight positive uptick, indicating potential short-term buying interest. As of press time, the Bitcoin price stood at $61,649, representing a 1.09% increase from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) also showed slight bullishness in today’s session, as evidenced by the price movements. An in-depth analysis shows that the Ethereum price is relatively flat with a tight trading range, as seen with the Bollinger Bands converging, suggesting low volatility. The price hovers around the middle Bollinger Band, indicating a balance between supply and demand.
Looking at other indicators, we see the ADX indicator shows a low value, indicating weak trend strength. This is consistent with the sideways movement in price. As of press time, the Ethereum price stood at $2,925, representing a 0.18% increase from its previous 24-hour price.
Lido DAO Price Review
Lido DAO (LDO) is the top gainer intoday’s session as seen from its impressive price movements. Looking at an in-depth analysis of Lido DAO price charts, we see that LDO has recently seen a sharp decline, breaking through multiple support levels. The Alligator indicator’s lines have fanned out downwards, suggesting that the downtrend may continue.
On the flip side, we see the AO (Awesome Oscillator) has deepened in the red zone, signaling strong bearish momentum. As of press time, the Lido DAO price stood at $1.76, representing a 1.27% increase from its previous 24-hour price.
Tron Price Review
Tron (TRX) is, however, correcting from its earlier gains, in today’s session, as evidenced by its price movements. Looking at an in-depth analysis of Tron price charts, we see that TRX has been relatively stable, moving sideways within a narrow range as indicated by the flat Supertrend line. Recent price action suggests consolidation.
Looking at other indicators, we see that Indicators the MFI (Money Flow Index) is moderate, indicating that the buying and selling pressure is balanced, aligning with the sideways trend seen on the chart. As of press time, the Tron price stood at $0.1267, representing a 0.13% decrease from its previous 24-hour price.
Chilliz Price Review
Chilliz (CHZ) is also another gainer in today’s session as seen from its price movements today. Looking at an in-depth analysis, we see that CHZ has seen some downward movement within a descending channel. Recent price action shows a rebound from the lower boundary of the channel, which could indicate a temporary bullish correction.
On the other hand, we see the Volume Oscillator is positive, suggesting some buying interest on recent price dips, supporting the possibility of a rebound. As of press time, the Chilliz price stood at $0.1204, representing a 1.8% decrease from its previous 24-hour price.
