Market Wrap: BTC, ETH Trade Sideways as MKR, MNT, TAO Post Gains

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 $3.14T as of press time

Crypto Fear & Greed Index Drops to 24 Signaling Extreme Fear

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 $3.14T as of press time, representing a 1.14% decrease over the last 24 hours, while the trading volume jumped by 45.52% over the same period to stand at $96.81B as of press time.

Bitcoin Price Review

Bitcoin, $BTC, has not posted gains in today’s session, as seen from the price movements. Looking at an in-depth, we see that the Alligator indicator shows the moving averages are converging, indicating low volatility.

On the other hand, we see that the ADX (18.06) signals weak trend strength, suggesting a lack of strong directional movement. Bitcoin traded at $95,371 as of press time, representing a 0.90% decrease over the last 24 hours.

Ethereum Price Review

Ethereum, $ETH, is also not a gainer today as also seen from its price movements. Looking at an in-depth analysis, we see that the upper band at $2,752 and lower band at $2,649 define the short-term range.

On the other hand, we see that the AO histogram is neutral with weak momentum, indicating indecisiveness. Ethereum traded at $2,668 as of press time, representing a 0.69% decrease over the last 24 hours.

Maker Price Review

Maker, $MKR, is among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that MKR is bullish, making a strong move upward and testing the 200 SMA (~$1,113). The 50 SMA (yellow) crossing above 100 SMA (green) suggests a potential bullish reversal.

On the other hand, we see that the Volume Oscillator is slightly negative (-1.12%), showing mixed momentum. Maker traded at $1,094 as of press time, representing a 9.4% increase over the last 24 hours.

Mantle Price Review

Mantle, $MNT, 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 the Supertrend indicator flipped green, confirming a bullish trend.

On the other hand, we see that the MFI is at 46.43 is neutral, indicating no overbought/oversold conditions. Mantle traded at $1.06 as of press time, representing a 4.64% increase over the last 24 hours.

Bittensor Price Review

Bittensor, $TAO, 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 TAO is below the Ichimoku Cloud, suggesting bearish momentum. The cloud is acting as resistance around $376-$390.

On the other hand, we see that the Volume Oscillator is at -14.15% shows declining trading activity. Bittensor traded at $358.91 as of press time, representing a 1.43% increase over the last 24 hours.