The post Daily Market Review: BTC, ETH, HNT, CRO, ZEC appeared on BitcoinEthereumNews.com.

The bears in control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.12T as of press time, representing a 0.88% decrease over the last 24 hours, while the trading volume dropped by 29% over the same period to stand at $66B as of press time.  Bitcoin Price Review Bitcoin, $BTC, is snow slowing down from its pump in today’s session, as seen from its price movements. Looking at an in-depth analysis, the Bitcoin price is testing the upper Bollinger Band, suggesting a potential breakout or a reversal. If the price breaks above the upper band with strong volume, it could signal a bullish continuation.  On the other hand, we see that the Awesome Oscillator (AO) shows positive momentum with green bars, indicating bullish pressure. However, the bars are slightly decreasing, hinting at a potential loss in momentum. Bitcoin traded at $60,528 as of press time, representing a 0.7% decrease over the last 24 hours. 4-hour BTC/USD Chart | Source: TradingView Ethereum Price Review Ethereum, ETH, is also not a gainer in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Alligator’s lines are starting to converge after a recent downtrend, suggesting that the trend might be losing its strength. If the lines cross, it could signal the beginning of a consolidation phase or a trend reversal. On the other hand, we see that the Money Flow Index (MFI) is at 68.44, nearing the overbought zone. This indicates that buying pressure is still present but might soon lead to a reversal or consolidation if the MFI crosses into the overbought territory. Ethereum traded at $2,625 as of press time, representing a 2.4% decrease over the last 24 hours. 4-hour ETH/USD Chart | Source:…

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Filed under: News - @ August 11, 2024 7:26 am