Daily Market Review: BTC, ETH, BRETT, JASMY, LDO
Bulls have taken back charge in today’s session as seen from the price movements today. The global market cap stood at $2.43T as of press time, representing a 0.49% increase in the last 24 hours, while the trading volume stood at $42.08B as of the same period, representing a 39% drop.
Bitcoin Price Review
Bitcoin (BTC) has failed to ost gains today ahead of its weekend dip, evidenced by its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is moving between the upper and lower Bollinger Bands, indicating periods of high and low volatility. The price is currently near the lower band, suggesting it might be oversold and could potentially rebound.
On the other hand, we see that the Awesome Oscillator (AO) is below the zero line, showing bearish momentum. However, if it starts to form green bars and move towards the zero line, it might indicate a possible bullish reversal. As of press time, Bitcoin was trading at $66,174, representing a 0.12% increase over the the last 24 hours.
Ethereum Price Review
Ethereum (ETH) has also not gained in today’s session as evidenced by the price movements. Looking at an in-depth analysis, we see that the chart shows a falling wedge pattern, which is typically a bullish reversal pattern. The price has broken out of the wedge and is heading towards the target indicated on the chart.
On the other hand, the Relative Strength Index (RSI) is approaching the 70 level, indicating that the asset might be overbought soon. A reading above 70 typically suggests the asset is overbought and might see a pullback. As of press time, Ethereum was trading at $3,552, representing a 0.35% decrease over the the last 24 hours.
Brett Price Review
Brett (BRETT) is today’s top gainer as seen from its price movements in today’s session. Looking at an in-depth analysis, we see that the Ethereum price is above the Ichimoku cloud, which suggests a bullish trend. The leading span lines (Senkou Span A and B) are also showing a potential future support area.
On the other hand, we see that the Money Flow Index (MFI) is around 67, indicating strong buying pressure. If it goes above 80, it might indicate the asset is overbought. As of press time, Brett was trading at $0.1555, representing a 7.7% increase over the the last 24 hours.
JasmyCoin Price Review
JasmyCoin (JASMY) is another top gainer in today’s session as seen from the rice movements. Looking at an in-depth analysis, we see that the the JasmyCoin price is slightly above the supertrend line, suggesting a bullish bias. However, the red trend line above the current price indicates potential resistance.
On the other hand, we see that the Woodies Commodity Channel Index (CCI) is fluctuating around the zero line. A move above 100 would indicate a strong bullish trend, while a move below -100 would indicate a strong bearish trend. As of press time, JasmyCoin was trading at $0.03645, representing a 6.03% increase over the the last 24 hours.
Lido DAO Price Review
Lido DAO (LDO) is the third top gainer today as seen from the price movements. Analysing Lido DAO price charts we see that the the Alligator lines (green, red, and blue) are indicating a potential awakening of the trend. The green line (jaw) is starting to cross over the red (teeth) and blue (lips) lines, suggesting a potential bullish trend.
On the other hand, we see that the RSI is around 73, indicating that the asset is currently overbought. This might lead to a price correction in the near future. As of press time, Lido DAO was trading at $2.12, representing a 6.15% increase over the the last 24 hours.
