Daily Market Review: BTC, ETH, KAS, MKR, FLR
Bears continue to dominate today’s session, as seen from the drop in the global market cap. The total market cap stood at $2.26T as of press time, representing a 0.59% decrease in valuation over the last day. On the other hand, the trading volume dropped by 31% within the same period to $57.7B.
Bitcoin Price Review
Bitcoin (BTC) has faced some corrections in today’s session, as seen from its price movements. An in-depth analysis shows that the Bitcoin price is trending downwards and has recently stabilized near the lower band, suggesting a potential oversold condition or a pause in the bearish momentum.
On the other hand, Woodie’s CCI oscillates around the -100 level, which generally indicates bearish sentiment. The lack of upward momentum in CCI suggests that market sentiment remains negative. As of press time, Bitcoin traded at $60,585, representing a 1.58% decrease over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) also failed to record gains in today’s session, as seen from its price movements. In-depth analysis shows that the lines of the Alligator are intertwining, and the price is weaving around them, indicating a lack of clear trends and a consolidation phase.
On the other hand, the MFI is near the 68 mark, which is moderately high. This suggests buying interest, but it is not strong enough for a bullish reversal. Ethereum traded at $3,367 as of press time, representing a 0.62% decrease over the last 24 hours.
Kaspa Price Review
As seen from its price movements, Kaspa (KAS) is among the gainers in today’s session. An in-depth analysis of Kaspa price charts shows that it recently broke above the Ichimoku Cloud, signaling a bullish breakout. The conversion line (blue) above the baseline (red) supports this bullish momentum.
On the other hand, the RSI is at around 73, which indicates that the market might be entering overbought territory, which could lead to a pullback or consolidation in the near term. Ethereum traded at $0.1753 as of press time, representing a 9.62% increase over the last 24 hours.
Maker Price Review
Maker (MKR) is also among the gainers in today’s session, as seen from its price movements. An in-depth analysis of Maker price charts shows Maker in a clear double-bottom pattern, generally a bullish reversal pattern. The second bottom appears to be forming, and if the price breaks above the neckline (dotted line), it could confirm the reversal.
Looking at other indicators, the Awesome Oscillator (AO) shows increasing green bars, indicating growing bullish momentum and supporting the potential breakout from the double bottom pattern. Maker traded at $2,522.35 as of press time, representing a 7.36% increase over the last 24 hours.
Flare Price Review
Flare (FLR) is also a gainer in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Flare price is moving towards the upper edge of the cloud. A break above the cloud would be a bullish sign.
The Volume Oscillator shows increasing volume as the price approaches the cloud, suggesting rising interest that might support a bullish breakout. Flare traded at $0.02456 as of press time, representing a 4.74% increase over the last 24 hours.
