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Sunday, July 14, 2024
EthereumBTC ETH QNT VET ADA Daily Market Review

BTC ETH QNT VET ADA Daily Market Review

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In today’s market session, bears have taken the lead, resulting in a decrease in the global market cap. The total market cap has dropped by 1.06% over the last 24 hours to reach $2.26 billion, while the trading volume also saw a 6.5% drop to $4.46 billion during the same period.

Bitcoin Price Analysis

Bitcoin (BTC) did not show any gains in today’s session, with its price movements indicating a “double top” pattern, a bearish reversal indicator. This pattern suggests potential downward pressure once the price breaks below the trough level. Other indicators such as the Money Flow Index (MFI) are trending towards the center, indicating a neutral market sentiment. As of press time, Bitcoin traded at $60,852, representing a 0.96% decrease over the last 24 hours.

Ethereum Price Analysis

Ethereum (ETH) also failed to post gains in today’s session, with its chart showing a “rising wedge” pattern, which typically suggests a breakout to the downside could be imminent. The Awesome Oscillator (AO) shows a slight decrease in momentum, aligning with the expected resolution of the rising wedge. As of press time, Ethereum traded at $3,389, representing a 1.3% decrease over the last 24 hours.

Quant Price Analysis

Quant (QNT) stands out as one of the gainers in today’s session, with its chart displaying significant volatility and recent bullish momentum. The Relative Strength Index (RSI) is near the midline, indicating neither overbought nor oversold conditions. As of press time, Quant traded at $77.70, representing a 3.2% increase over the last 24 hours.

VeChain Price Analysis

VeChain (VET) also saw gains in today’s session, with its chart displaying a consolidation phase and slight bullish momentum as the price moves above the moving averages. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, supporting the recent uptick in price. As of press time, VeChain traded at $0.02671, representing a 1.7% increase over the last 24 hours.

Cardano Price Analysis

Cardano also joined the gainers today, with its chart showing interaction around the Ichimoku Cloud, indicating a phase of consolidation or indecision. The Woodies Commodity Channel Index (CCI) shows readings fluctuating around the zero line, suggesting a lack of strong momentum in either direction. As of press time, Cardano traded at $0.395, representing a 1.89% increase over the last 24 hours.

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