Daily Market Review: BTC, ETH, XRP, TON, STX
blockchainreporter.net 08 August 2024 10:37, UTC The bears in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $1.96T as of press time, representing a 1.78% increase over the last 24 hours, while the trading volume dropped by 20.28% over the same period to stand at $93.58B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, is still keeping up its pump in today’s session, as seen from its price movements. Looking at an in-depth analysis, The chart shows Bollinger Bands with a 20-period SMA (blue line). The price recently bounced from the lower band ($52,600) and is now moving towards the middle band ($55,676). The upper band is around $58,751.97.
On the other hand, the Volume Oscillator is at -34.87%, indicating reduced trading volume compared to its average. This suggests caution as the recent price rise might not be strongly supported by volume. Bitcoin traded at $57,283 as of press time, representing a 0.22% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is not among the gainers in today’s session as seen from its price movements. The price is trading below all three lines of the Alligator indicator, which confirms the bearish sentiment. The price is currently around $2,422.92, with the Alligator’s Lips at $2,426.18, Teeth at $2,458.67, and Jaw at $2,536.32.
On the other hand, we see that the Woodies Commodity Channel Index (CCI) is showing mixed signals with a recent move from -40.10 to 55.93, indicating some positive momentum but still within a range-bound movement. Ethereum traded at $2,425 as of press time, representing a 3.49% decrease over the last 24 hours.
Ripple Price Review
Ripple, $XRP, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Awesome Oscillator shows increasing positive momentum as the bars are green and rising above the zero line.
On the other hand, we see that the Ripple price is above the Supertrend indicator which means that the bulls are working. Ripple traded at $0.6161 as of press time, representing a 19.7% increase over the last 24 hours.
Toncoin Price Review
Toncoin, $TON, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Toncoin price is attempting to break above the Ichimoku Cloud, which currently acts as a resistance. The Tenkan-sen (red line) is below the Kijun-sen (blue line), indicating a bearish sentiment.
On the other hand, we see that the Volume Oscillator is at 13.98%, showing a slight increase in volume, which may support the recent price movements. Toncoin traded at $6.25 as of press time, representing a 9.06% increase over the last 24 hours.
Stellar Price Review
Stellar, $STX, is among the gainers in today’s session as seen from its price increase. Looking at an in-depth analysis, we see that the Auto Pitchfork indicates potential resistance and support levels. The price is near the upper boundary of the pitchfork channel.
On the other hand, we see that the Woodies Commodity Channel Index (CCI) is showing strong bullish momentum as it stays well above the 100 level. Stellar traded at $6.25 as of press time, representing a 9.06% increase over the last 24 hours.
