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The bears are now gaining back control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.04T as of press time, representing a 0.15% decrease over the last 24 hours, while the trading volume jumped by 10% over the same period to stand at $61.54B 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 in-depth analysis, we see that the 50, 100, and 200 SMAs (simple moving averages) show a confluence around the price, which indicates indecision in market direction. The Bitcoin price is currently near the 100 and 200 SMAs, signaling a key resistance point at $58,947.  The Relative Strength Index (RSI) is hovering near neutral levels, reflecting a balanced sentiment with neither overbought nor oversold conditions. However, if the price breaks above the 200-SMA, it could indicate a bullish continuation. Bitcoin traded at $58,498 as of press time, representing a 0.57% decrease over the last 24 hours. 4-hour BTC/USD Chart | Source: TradingView Ethereum Price Review Ethereum, $ETH, is among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Ethereum’s 4-hour chart presents a consolidation within a cloud formation as represented by the Ichimoku Cloud. The Ethereum price is hovering near $2,298, within a weak trendless zone, suggesting a lack of clear directional bias.  On the other hand, we see that the RSI is around 29.32, indicating oversold conditions, which could imply a potential upward reversal if buying pressure builds. Ethereum traded at $2,302 as of press time, representing a 0.30% increase over the last 24 hours. 4-hour ETH/USD Chart | Source: TradingView Fantom Price Review Fantom, $FTM, is also among the gainers in…

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Filed under: News - @ September 17, 2024 9:26 am