Daily Market Review: BTC, ETH, TRX, BTT, BRETT
blockchainreporter.net 21 August 2024 08:18, UTC The bears are in total control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.11T as of press time, representing a 1.8% decrease over the last 24 hours, while the trading volume dropped by 5.6% over the same period to stand at $61B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, is not posting gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, Bitcoin is trading within a relatively narrow range between $59,403 (lower Bollinger Band) and $60,859 (upper Bollinger Band). The price has recently bounced off the lower band, indicating that it may find support here.
On the other hand, we see that the Money Flow Index is at 49.68, which is neutral. This suggests that there isn’t strong buying or selling pressure currently. The market may be waiting for a catalyst. Bitcoin traded at $59,692 as of press time, representing a 2.3% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also not posting gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Ethereum is consolidating around the $2,604 level, with the Alligator lines intertwined, indicating a lack of trend and potential for a breakout. The price is close to the middle line of the Alligator indicator, suggesting indecision in the market.
On the other hand, we see that the Woodies CCI is slightly negative at -25.9, indicating that the market is still somewhat bearish, but not strongly so. Ethereum traded at $2,600 as of press time, representing a 2.3% decrease over the last 24 hours.
Tron Price Review
Tron, $TRX, is among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis we see that TRON has recently experienced a sharp rally, with the Tron price breaking above the Ichimoku Cloud, which is generally a bullish signal. The price is currently finding resistance near $0.1591.
On the other hand, we see that the ADX is at 54.13, which indicates a strong trend. Given the recent rally, this suggests strong bullish momentum, although the high ADX also implies that the trend might be overextended. Tron traded at $0.159 as of press time, representing a 10.6% increase over the last 24 hours.
BitTorrent Price Review
BitTorrent, BTT, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that BitTorrent’s price is hovering around $0.00000084, with a Supertrend indicator currently bullish as the price is above the green zone. The price is consolidating after a recent spike.
On the other hand, we see that the RSI is at 67.01, nearing the overbought territory, suggesting that the buying pressure is strong but may face resistance soon. BitTorrent traded at $0.068678 as of press time, representing a 16.7% increase over the last 24 hours.
Brett Price Review
Brett, $BRETT, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis we see that Brett is trading around $0.08903, following a significant spike that tested the upper boundary of the pitchfork. The price is now retracing slightly, indicating a possible short-term correction.
On the other hand, we see that the Volume Oscillator shows a decrease in volume (-18.59%), suggesting that the recent bullish momentum may be losing steam. Brett traded at $0.08928 as of press time, representing a 6.5% increase over the last 24 hours.
