Daily Market Review: BTC, ETH, STX, XRP, FTM
The bulls have lost out to bears, as seen from the decrease in the global market cap. The total cap stood at $2.41T as of press time, representing a 1.29% decrease over the last 24 hours, while the trading volume jumped by 21.4% over the same period to stand at $87.9B as of press time.
Bitcoin Price Review
However, Bitcoin, $BTC, is not among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Bollinger Bands are expanding, indicating increased volatility. The Bitcoin price has moved towards the lower band, suggesting potential oversold conditions.
On the other hand, the RSI is at 44.50, below the neutral 50 level, indicating bearish momentum. However, it is not yet in oversold territory (below 30), suggesting room for further downside. As of press time, Bitcoin traded at $66,050, representing a 2% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also not among the gainers in today’s session, as seen from the price movements. An in-depth analysis shows that the Alligator’s lines (jaw, teeth, lips) converge, suggesting a decrease in trend strength and potential for sideways movement.
On the other hand, the Woodies CCI shows values fluctuating around the -100 and +100 levels, indicating a lack of solid momentum in either direction. Ethereum traded at $3,450 as of press time, representing a 0.67% decrease over the last 24 hours.
Stacks Price Review
Stacks $STX is not among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Stacks price is below the cloud, and the leading span is bearish (red cloud), suggesting downward pressure.
On the other hand, the Awesome Oscillator shows red bars, indicating negative momentum. The histogram is below the zero line, confirming a bearish sentiment. Stacks traded at $1.78 as of press time, representing a 4.6% decrease over the last 24 hours.
Ripple Price Review
Its price movements show that Ripple $XRP is also not a gainer in today’s session. An in-depth analysis shows that the Ripple price hovers around the cloud, suggesting potential support. The conversion line (blue) is above the baseline (red), indicating possible bullish momentum if the price stays above the cloud.
On the other hand, the Volume Oscillator shows declining volume, indicating a lack of solid buying or selling pressure. Ripple traded at $0.594 as of press time, representing a 4.57% decrease over the last 24 hours.
Fantom Price Review
Fantom $FTM has also failed to post gains in today’s session, as seen from its price movements. An in-depth analysis shows that the Ripple price is moving towards the lower line of the pitchfork, indicating potential support. A break below this level could signal further declines.
On the other hand, the ADX is at 17.05, indicating a weak trend. A rising ADX would suggest strengthening trend momentum. Fantom traded at $0.4846 as of press time, representing a 6.95% decrease over the last 24 hours.
