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Wednesday, July 24, 2024
EthereumDaily Market Review Bitcoin Ethereum Ripple Solana Near

Daily Market Review Bitcoin Ethereum Ripple Solana Near

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The global market cap has taken a slight dip, indicating that bears are still dominating the market. Currently standing at $2.41T, there has been a 0.29% decrease in the last 24 hours. The trading volume has seen a significant increase, reaching $50.7B, a 20% surge over the same period.

Bitcoin (BTC) has managed to make some gains amidst the bear trend. However, a closer look reveals that the Bitcoin price is below the Ichimoku Cloud, signaling a bearish trend. The red and widening cloud ahead suggests that the bearish momentum may continue. With an RSI of 43.25, the market is in bearish territory but not yet oversold. At the moment, Bitcoin is trading at $66,974, showing a 0.55% increase in the last 24 hours.

Ethereum (ETH), on the other hand, has not been able to gain ground in today’s session. The price movements indicate that Ethereum is touching the lower Bollinger Band, hinting at a possible short-term reversal or further bearish movement if it breaks below. The AO indicator shows red bars below the zero line, indicating bearish momentum. Ethereum is currently trading at $3,567, a 0.77% decrease in the last 24 hours.

Ripple (XRP) stands out as one of the top gainers in today’s session. The Supertrend indicator shows a buy signal as the Ripple price is above the green line (support). Additionally, the Woodies CCI indicates a strong bullish signal with a value above 100 (206.89). Ripple is trading at $0.5143, marking a 5.2% increase in the last 24 hours.

Solana (SOL) has not been able to make gains in today’s session either. The analysis suggests a potential bullish reversal if the price manages to break above the neckline. The RSI is around 47.43, indicating a neutral stance but leaning towards bullish territory as it is above the oversold region. Solana is currently trading at $146.28, showing a 1.2% decrease in the last 24 hours.

Near Protocol (NEAR) has also struggled to make gains today. The price is at the lower boundary of the wedge, hinting at a potential breakout. The volume oscillator shows an increase in volume, supporting the possibility of a breakout. Near Protocol is trading at $5.4, representing a 3.8% decrease in the last 24 hours.

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