Daily Market Review: BTC, ETH, PYTH, FLOW, TRX

The bears are still in control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.31T as of press time, representing a 3.52% decrease over the last 24 hours, while the trading volume jumped by 0.75% over the same period to stand at $83.05B as of press time. 

Bitcoin Price Review

Bitcoin, $BTC, is not among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Supertrend indicator recently switched from red (bearish) to green (bullish), indicating a potential uptrend. The Bitcoin price has exceeded the Supertrend indicator, confirming a bullish trend.

On the other hand, the ADX value is 22.43, indicating a weak trend strength. ADX values above 25 usually signify stronger trends. As of press time, Bitcoin traded at $64,163, representing a 2.7% decrease over the last 24 hours.

Ethereum Price Review

Ethereum, $ETH, has also corrected massively in today’s session, as seen from the price movements. An in-depth analysis shows that the price recently touched the lower Bollinger Band, indicating it may be oversold and could reverse. The Bollinger Bands are widening, suggesting increased volatility.

On the other hand, we see that the Awesome Oscillator is in negative territory, showing bearish momentum. However, the recent histogram bars are becoming smaller, indicating a potential weakening of the bearish momentum. Ethereum traded at $3,170 as of press time, representing a 7.97% decrease over the last 24 hours.

Pyth Network Price Review

Pyth Network (PYTH) is among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the Alligator indicator’s lines are entwined, suggesting a ranging market with no clear trend. The Pyth Network price is moving along the Alligator’s jaw (blue line), indicating indecision.

On the other hand, we see that the Woodies CCI values fluctuate around the zero line, confirming the ranging market. Pyth Network traded at $0.3518 as of press time, representing a 2.35% increase over the last 24 hours.

Flow Price Review

As seen from the price movements, Flow (FLOW) is also among the gainers in today’s session. An in-depth analysis shows that the Flow price is currently above the Ichimoku Cloud, indicating a bullish trend. The leading span lines (Senkou Span A and B) suggest future support of around 0.652 USD.

On the other hand, the Woodies CCI is above the zero line, confirming bullish momentum but starting to decrease, signaling a potential pullback. Flow traded at $0.6284 as of press time, representing a 0.09% increase over the last 24 hours.

Tron Price Review

Despite the bear trend, Tron $TRX is among the gainers in today’s session, as seen from the price movements. An in-depth analysis shows that Pitchfork indicates a channel where the price moves upwards. The Tron price is near the lower boundary of the Pitchfork, suggesting potential support.

On the other hand, we see that the ADX value is 15.28, indicating a feeble trend strength. Tron traded at $0.1354 as of press time, representing a 0.97% increase over the last 24 hours.