Analytics

Daily Market Review: BTC, ETH, IMX, XRM, GNO

Today’s session began with a bear sentiment as most tokens failed to post gains and only a few saw price increments over the last 24 hours. The global market cap has dropped by 0.44% over the same period to $1.8T.

Bitcoin Price Review

Bitcoin’s (BTC) price action has been trading above the 20-period Simple Moving Average (SMA) on the 2-hour chart, indicating a sustained bullish trend on the Bitcoin price. The Bollinger Bands are moderately wide, suggesting some degree of market volatility. The Relative Strength Index (RSI) hovered around 60, slightly below the overbought territory, hinting at a potential continuation of the upward momentum without immediate signs of a reversal on the Bitcoin price.

The Average Directional Index (ADX) maintained a reading above 50, reinforcing the current trend’s strength. The

stood at $48.2K as of press time representing a 0.07% drop within the last 24 hours.

BTC 2-hour chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) presented a steady uptrend within the constraints of an ascending channel, accompanied by the Auto Pitchfork indicator, which also pointed to a bullish trend on the Ethereum price. The Awesome Oscillator (AO) indicated some bearish momentum as it was below the zero line, while the Chaikin Money Flow (CMF) was close to the zero line, suggesting a balance between buying and selling pressures.

The

stood at $2,500 as of press time representing a 1.3% drop within the last 24 hours. ETH’s market cap stood at $300 Billion as of press time.

ETH 2-hour chart | Source: TradingView

ImmutableX Price Review

ImmutableX (IMX) showed an uptrend with prices above the alligator indicator, typically interpreted as bullish. Woodie’s Commodity Channel Index (CCI) oscillated above and below the zero line, indicating indecisiveness in the market sentiment but maintaining a positive outlook overall on the ImmutableX price.

The ImmutableX price stood at $2.99 as of press time representing a 10.2% jump within the last 24 hours. IMX’s market cap stood at $4 Billion as of press time.

IMX 2-hour chart | Source: TradingView

Monero Price Review

Monero’s (XRM) chart displayed a consolidation phase with the Monero price oscillating around the Moving Average Convergence Divergence (MACD) signal line, indicating a lack of strong momentum in either direction. The Volume Oscillator was negative, suggesting lower trading volumes during this period, often corresponding to a lack of conviction among traders.

The Monero price stood at $122.7 as of press time representing a 3% jump within the last 24 hours. XRM’s market cap stood at $78 million as of press time.

XRM 2-hour chart | Source: TradingView

Gnosis Price Review

Gnosis showed a relatively stable price movement, trading above the Supertrend indicator, which signaled a bullish market condition. The Historical Volatility (HV) indicator was on the lower end, reflecting reduced fluctuations and a more stable price movement during the observed period.

The Gnosis price stood at $254 as of press time representing a 2.6% jump within the last 24 hours. GNO’s market cap stood at $659 million as of press time.

GNO 2-hour chart | Source: TradingView

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