Daily Market Review: BTC, ETH, KAS, IP, TAO

The bears are in control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.6T as of press time, representing a 1.02% decrease over the last 24 hours, while the trading volume jumped by 29.7% over the same period to stand at $158.63B as of press time. 

Bitcoin Price Review

Bitcoin, $BTC, has failed to post gains in today’s session, as seen from the price movements. Looking at an in-depth analysis, we see that The chart shows Bitcoin in a strong downtrend as indicated by the price consistently trading below the 20-period simple moving average (SMA) and the Bollinger Bands widening, which suggests increasing volatility and bearish momentum.

The RSI is below 40, suggesting bearish momentum. The narrowing of the Bollinger Bands might indicate potential volatility and a possible price consolidation or reversal. Bitcoin traded at $90,800 as of press time, representing a 1.13% decrease over the last 24 hours.

Ethereum Price Review

Ethereum, ($ETH) has also failed to post gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Ethereum is also in a downtrend, similar to Bitcoin, with the price below the cloud in the Ichimoku Kinko Hyo indicator, indicating bearish conditions.

Looking at other indicators, we see that the Awesome Oscillator (AO) shows a red bar, signaling bearish momentum. The negative values suggest that selling pressure is currently dominant. Ethereum traded at $1,847 as of press time, representing an 8.11% decrease over the last 24 hours.

Kaspa Price Review

Kaspa, ($KAS), is among the day’s few gainers as also evidenced from the price movements. Looking at an in-depth analysis, we see that Kaspa exhibits a downtrend, marked by the price moving below the major moving averages (50, 100, 200-SMA).

The Volume Oscillator is positive, suggesting some buying interest at lower levels, although the downtrend remains strong. Kaspa traded at $0.06294 as of press time, representing an 6.61% increase over the last 24 hours.

Story Price Review

Story, ($IP), is also among the day’s few gainers as also evidenced from the price movements. Looking at an in-depth analysis, we see that Story shows more stability with a sideways trend indicated by oscillations around the moving averages, which are tightly packed together.

The Volume Oscillator shows slight negative values, suggesting a decrease in buying momentum, which may indicate consolidation or a buildup phase before the next move. IP traded at $5.08 as of press time, representing a 4.76% increase over the last 24 hours.

Bittensor Price Review

Bittensor, ($TAO), is also a gainer today also seen from its price movements today. Looking at an in-depth analysis, we see that Tao is in a clear downtrend with the price consistently trading below the Ichimoku cloud.

On the other hand, we see that the MACD is in the negative zone but shows a converging movement towards the signal line, suggesting a possible decrease in downward momentum and a potential reversal or consolidation. Bittensor traded at $237.37 as of press time, representing a 2.17% increase over the last 24 hours.