Daily Market Review: BTC, ETH, CFX, PYTH, ADA
Today’s market session has seen bears on the front foot, as seen from the drop in the global market cap. The total cap stood at $2.29T as of press time, representing a 1.49% drop over the last 24 hours, while the trading volume stood at $54.64B as of the same period, representing a 7.7% increase over the same period.
Bitcoin Price Review
Bitcoin (BTC) is not among the gainers in today’s session, as its price movements show. An in-depth analysis shows that the Bitcoin price is currently at the lower band, suggesting potential oversold conditions. The bands have widened, indicating increased volatility.
On the other hand, the Awesome Oscillator shows red bars below the zero line, indicating bearish momentum. As of press time, Bitcoin traded at $60,856, representing a 2.81% decrease over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) is also not among the gainers in today’s session, as its price movements show. In-depth analysis shows that the lines are intertwined and show a slight bearish cross, indicating potential trend change or consolidation.
On the other hand, we see the MFI is at 41.20, indicating neither overbought nor oversold conditions but leaning towards a slightly bearish sentiment. Ethereum traded at $3,351 as of press time, representing a 2.4% decrease over the last 24 hours.
Conflux Price Review
Conflux (CFX) is among the top gainers in today’s session, as evidenced by its price movements. An in-depth analysis shows a rising wedge pattern, which typically signals a bearish reversal.
On the other hand, we see that the Volume Oscillator: Negative volume oscillator at -14.53%, indicating decreasing buying pressure. As of press time, Conflux traded at $0.1721, representing a 3.08% increase over the last 24 hours.
Pyth Network Price Review
Pyth Network (PYTH) is also among the gainers in today’s session, as evidenced by its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is currently in the cloud, indicating indecision. The leading span lines are converging, suggesting potential consolidation or trend reversal.
On the other hand, looking at other indicators, we see that the ADX is at 14.07, indicating a weak trend. As of press time, Pyth Network traded at $0.3278, representing a 1.3% increase over the last 24 hours.
Cardano Price Review
Cardano (ADA) is also among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Supertrend indicator shows a bullish signal with the price above the Supertrend line.
On the other hand, the MACD line is above the signal line, indicating bullish momentum. As of press time, Cardano traded at $0.4159, representing a 2.1% increase over the last 24 hours.
