Daily Market Review: BTC, ETH, ZEC, TIA, ALGO

The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $3.23T as of press time, representing a 0.15% increase over the last 24 hours, while the trading volume dropped by 5% over the same period to stand at $224.73B as of press time.

Bitcoin Price Review

Bitcoin, $BTC, has posted minor gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the price is testing the resistance at $94,105.10. The 50, 100, and 200 Simple Moving Averages (SMA) suggest that the trend has been bearish as the price has been trading below these averages, but a recent uptick suggests a potential reversal.

On the other hand, The Average Directional Index (ADX) value is 29.71, which indicates a moderate trend strength. The fact that it is below 30 suggests that the trend may not be very strong. Bitcoin traded at $93,384 as of press time, representing a 0.25% increase over the last 24 hours.

4-hour BTC|USD Chart | Source: TradingView

Ethereum Price Review

Ethereum, $ETH, has also posted small gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Ethereum price is hovering near the Bollinger Band middle line, indicating some consolidation. The 20 SMA has provided dynamic support recently.

On the other hand, we see that the Awesome Oscillator shows increasing green bars, suggesting growing bullish momentum. Ethereum traded at $3,421 as of press time, representing a 1.65% increase over the last 24 hours.

4-hour ETH/USD Chart | Source: TradingView

Zcash Price Review

Zcash, $ZEC, is among the gainers in today’s session as also seen from its price movements. Looking at in-depth analysis, we see that the Zcash price is testing the upper boundary of the Ichimoku cloud, which might act as resistance.

On the other hand, we see that the Relative Strength Index (RSI) is around 69.09, nearing the overbought territory which suggests caution among buyers. Zcash traded at $56.27 as of press time, representing a 19.9% increase over the last 24 hours.

4-hour ZEC/USD Chart | Source: TradingView

Celestia Price Review

Celestia, $TIA, is also among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Alligator indicator shows a bullish trend as the jaw, teeth, and lips are well aligned and the price is trading above them.

On the other hand, we see that the Volume Oscillator shows little divergence from zero, indicating no significant volume increase to support the current price trend. Celestia traded at $56.27 as of press time, representing an 11.52% increase over the last 24 hours.

4-hour TIA/USD Chart | Source: TradingView

Algorand Price Review

Algorand, $ALGO, is also among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Supertrend indicator is above the price and currently red, indicating a bearish trend.

On the other hand, we see that the Money Flow Index (MFI) is at 70.93, which is in the slightly overbought region, suggesting that a pullback could occur. Algorand traded at $0.2916 as of press time, representing an 11.73% increase over the last 24 hours.

4-hour ALGO/USD Chart | Source: TradingView