Daily Market Review: BTC, ETH, MKR, MNT, TAO

The bears are in total control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $3.14T as of press time, representing a 1.14% decrease over the last 24 hours, while the trading volume jumped by 45.52% over the same period to stand at $96.81B as of press time. 

Bitcoin Price Review

Bitcoin, $BTC, has not posted gains in today’s session, as seen from the price movements. Looking at an in-depth, we see that the Alligator indicator shows the moving averages are converging, indicating low volatility.

On the other hand, we see that the ADX (18.06) signals weak trend strength, suggesting a lack of strong directional movement. Bitcoin traded at $95,371 as of press time, representing a 0.90% decrease over the last 24 hours.

Ethereum Price Review

Ethereum, $ETH, is also not a gainer today as also seen from its price movements. Looking at an in-depth analysis, we see that the upper band at $2,752 and lower band at $2,649 define the short-term range.

On the other hand, we see that the AO histogram is neutral with weak momentum, indicating indecisiveness. Ethereum traded at $2,668 as of press time, representing a 0.69% decrease over the last 24 hours.

Maker Price Review

Maker, $MKR, is among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that MKR is bullish, making a strong move upward and testing the 200 SMA (~$1,113). The 50 SMA (yellow) crossing above 100 SMA (green) suggests a potential bullish reversal.

On the other hand, we see that the Volume Oscillator is slightly negative (-1.12%), showing mixed momentum. Maker traded at $1,094 as of press time, representing a 9.4% increase over the last 24 hours.

Mantle Price Review

Mantle, $MNT, 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 Supertrend indicator flipped green, confirming a bullish trend.

On the other hand, we see that the MFI is at 46.43 is neutral, indicating no overbought/oversold conditions. Mantle traded at $1.06 as of press time, representing a 4.64% increase over the last 24 hours.

Bittensor Price Review

Bittensor, $TAO, 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 TAO is below the Ichimoku Cloud, suggesting bearish momentum. The cloud is acting as resistance around $376-$390.

On the other hand, we see that the Volume Oscillator is at -14.15% shows declining trading activity. Bittensor traded at $358.91 as of press time, representing a 1.43% increase over the last 24 hours.