Daily Market Review: BTC, ETH, XRP. BOME, XLM
The bears are still in control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.4T as of press time, representing a 2.88% decrease over the last 24 hours, while the trading volume jumped by 43% over the same period to stand at $78.6B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. According to an in-depth analysis, Bitcoin’s price is currently testing the middle Bollinger Band, which often acts as dynamic support or resistance. The upper and lower bands show a slight contraction, indicating reduced volatility.
On the other hand, the Relative Strength Index (RSI) is at 48.54, suggesting neutral momentum. Bitcoin traded at $66,344 as of press time, representing a 0.63% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has also failed to post gains in today’s session, as seen from its price movements. According to an in-depth analysis, the Alligator lines are intertwined, indicating a lack of a clear trend and potential consolidation. The recent Ethereum price movement is above the Alligator’s mouth, hinting at a possible bullish trend if the price maintains above these levels.
On the other hand, the Awesome Oscillator (AO) shows a histogram above the zero line, indicating bullish momentum. Ethereum traded at $3,322 as of press time, representing a 0.24% decrease over the last 24 hours.
Ripple Price Review
Ripple, $XRP, is among the gainers in today’s session, as seen from the price movements. An in-depth analysis shows that the Supertrend is currently green, suggesting an uptrend. XRP is trading above the Supertrend support level of $0.5965.
On the other hand, the Commodity Channel Index (CCI) is at 140.7790, indicating an overbought condition. Ripple traded at $0.648 as of press time, representing an 8.3% increase over the last 24 hours.
BOOK OF MEME Price Review
BOOK OF MEME $BOME is also among the gainers in today’s session. An in-depth analysis shows that the BOOK OF MEME price is currently within the Ichimoku Cloud, indicating indecision and potential consolidation. The future cloud is green, hinting at possible bullish momentum if the price breaks above the cloud.
On the other hand, the volume oscillator is at -8.02%, indicating a decrease in volume and a potential lack of strong buying interest. BOOK OF MEME traded at $0.01123 as of press time, representing a 6.7% increase over the last 24 hours.
Stellar Price Review
Stellar, $XLM, is also among the gainers in today’s session, as seen from the price movements. An in-depth analysis shows that the Stellar price is currently near the median line of the pitchfork, indicating a neutral position within the channel.
On the other hand, the ADX is at 18.34, indicating a weak trend. An ADX value below 20 typically suggests a lack of a strong trend, implying potential consolidation. Stellar traded at $0.105 as of press time, representing a 4.8% increase over the last 24 hours.
