Daily Market Review: BTC, ETH, BNB, SHIB, DOGE
Today’s market session also saw bears on the front foot, as seen from the drop in the global market cap. The total cap stood at $2.07T as of press time, representing a 3.95% drop over the last 24 hours, while the trading volume stood at $92.87B as of the same period, representing a 10.5% increase over the same period.
Bitcoin Price Review
Bitcoin (BTC) is among the losers in today’s session, as seen from its price movements. An in-depth analysis shows that the Bitcoin price has sharply moved towards the lower Bollinger Band, indicating high volatility and a potential oversold condition. The 20-period SMA (Simple Moving Average) within the Bollinger Bands shows a downward slope, suggesting a bearish trend.
On the other hand, the Awesome Oscillator (AO) is deeply damaging, indicating strong bearish momentum. As of press time, Bitcoin traded at $54,234, representing a 7.1% decrease over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) also faces corrections today, as seen from its price movements. An in-depth analysis shows that the red supertrend indicator indicates a bearish trend. Ethereum is in a strong bearish trend, with the supertrend indicator confirming it.
On the other hand, looking at other indicators, we see that the MFI (Money Flow Index) is very low at 5.46, suggesting the market is oversold. Ethereum traded at $54,234 as of press time, representing a 9.8% decrease over the last 24 hours.
Binance Coin Price Review
As seen from its price movements, Binance Coin (BNB) has also failed to post gains in today’s session. Looking at an in-depth analysis, we see that the Alligator’s Jaw (blue line), Teeth (red line), and Lips (green line) are intertwined and show a slight downward movement, indicating a bearish phase.
On the other hand, we see that the Woodies CCI (Commodity Channel Index) is profoundly negative, confirming the bearish momentum. Binance Coin traded at $471.29 as of press time, representing an 11.4% decrease over the last 24 hours.
Shiba Inu Price Review
Shiba Inu (SHIB) has also failed to post gains in today’s session, as seen from its price movements. An in-depth analysis shows that the Shiba Inu price is below the Ichimoku Cloud, indicating a bearish trend.
On the other hand, we see that the MFI (Money Flow Index) is at 4.41, which indicates the asset is oversold. Shiba Inu traded at $0.00001327 as of press time, representing a 14.58% decrease over the last 24 hours.
Dogecoin Price Review
Dogecoin (DOGE) is also not among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the chart shows a bearish pennant pattern, suggesting a continuation of the downtrend.
On the other hand, we see that the MFI (Money Flow Index) is very low at 1.76, indicating oversold conditions. Dogecoin traded at $0.09563 as of press time, representing a 15.04% decrease over the last 24 hours.
