Daily Market Review: BTC, ETH, TIA, FTM, BEAM
blockchainreporter.net 15 September 2024 21:14, UTC The bulls are now gaining back control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.1T as of press time, representing a 0.27% increase over the last 24 hours, while the trading volume also dropped by 36.4% over the same period to stand at $535.8B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has posted gains in today’s session, as seen from its price movements. Looking at an in-depth, we see that the Bollinger Bands show a tightening formation, which typically indicates reduced volatility before a potential breakout. The Bitcoin price is trading near the upper band, signaling bullish momentum. The MACD shows a positive crossover, where the blue line (MACD) crossed above the orange signal line, further confirming bullish momentum.
If the price continues to stay near or above the upper band, the momentum could push BTC higher. However, a return to the middle or lower band could indicate short-term consolidation. Bitcoin traded at $60,359 as of press time, representing a 0.78% 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. Looking at an in-depth analysis, we see that the Alligator indicator shows the green line (Jaw) above the blue and red lines, indicating a possible upward trend, but the lines are somewhat converging, suggesting indecision.
On the other hand, we see that the ADX reading is low (17.60), which points to a weak trend. Therefore, although there is a slight upward tendency, Ethereum may not see a strong breakout until the ADX shows a stronger trend (above 25). Ethereum traded at $2,407 as of press time, representing a 0.4% decrease over the last 24 hours.
Celestia Price Review
Celesti, $TIA, 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 Celestia price has broken above the Ichimoku cloud, which is a strong bullish signal, and the cloud is also green, reinforcing the uptrend.
On the other hand, the MFI is at 73.13, close to the overbought level of 80, suggesting that while momentum is strong, the price could face selling pressure soon if the MFI crosses into overbought territory. Celesti traded at $5.06 as of press time, representing aN 11.54% increase over the last 24 hours.
Fantom Price Review
Fantom, $FTM, 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 Supertrend is showing a bullish signal as the price is above the green trendline, indicating that FTM is in an upward momentum.
On the other hand, we see that the Awesome Oscillator shows increasing green bars, which confirms growing bullish momentum. Fantom traded at $0.5237 as of press time, representing a 9.94% increase over the last 24 hours.
Beam Price Review
Beam, $BEAM, 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 the Beam price is following an upward trend within the pitchfork, respecting the support levels.
The RSI is at 74.95, entering the overbought territory, which suggests that the current uptrend may be approaching exhaustion and could face a correction soon. Beam traded at $0.01531 as of press time, representing a 6.11% increase over the last 24 hours.
