Daily Market Review: BTC, ETH, BNX, CAKE, CRO

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 $2.73T as of press time, representing a 0.05% decrease over the last 24 hours, while the trading volume also jumped by 65% over the same period to stand at $73.79B as of press time. 

Bitcoin Price Review

Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the price is trading near the middle of the Bollinger Bands, indicating a consolidation phase. The upper band is around $85,254, and the lower band is at $82,332.

On the other hand, we see that RSI is at 51.69, showing neutral momentum, meaning neither overbought nor oversold conditions. Bitcoin traded at $83,420 as of press time, representing a 0.69% decrease over the last 24 hours.

Ethereum Price Review

Ethereum, $ETH, is among the gainers in today’s market as seen from its price movements. Looking at an in-depth analysis, we see that ETH remains below the 50-SMA ($1,935), indicating short-term bearishness. The 100-SMA ($2,076) and 200-SMA ($2,350) serve as strong resistance levels.

On the other hand, we see that the Awesome Oscillator (AO) is negative (-7.48), suggesting bearish momentum. Ethereum traded at $1,910 as of press time, representing a 0.12% increase over the last 24 hours.

BinaryX Price Review

BinaryX, $BNX, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that BNX saw a sharp breakout above the Ichimoku Cloud, signaling bullish strength. The conversion line ($1.5010) and baseline ($1.3564) are support levels.

A successful hold above $1.67 could push BNX toward $1.90. Volume Oscillator is at 55.54%, indicating strong buying volume. BinaryX traded at $1.77 as of press time, representing a 48% increase over the last 24 hours.

PancakeSwap Price Review

PancakeSwap, $CAKE, is also among the gainers in today’s session as also seen from the price movements. Looking at an in-depth analysis, we see that CAKE has flipped bullish on the Supertrend indicator. Support lies at $1.95, with the next resistance at $2.60.

On the other hand, we see that the ADX is at 48.87 suggests strong momentum, if it rises above 50, a continuation is likely. PancakeSwap traded at $2.52 as of press time, representing a 39% increase over the last 24 hours.

Cronos Price Review

Cronos, $CRO, 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 CRO is attempting a breakout, as the Alligator’s moving averages are tightening. The MFI is at 63.38 suggests increased buying pressure but not yet overbought.

On the other hand, we see that a close above $0.088 may push CRO toward $0.090, while failure could see a retracement to $0.083. Cronos traded at $0.08694 as of press time, representing a 5.6% increase over the last 24 hours.