Daily Market Review: BTC, ETH, ENA, FTT, OP

The bears are in control of today’s session, as seen from the decrease in the global market cap. The total cap stood at $3.27T as of press time, representing a 1.42% decrease over the last 24 hours, while the trading volume jumped by 20% over the same period to stand at $96.92B as of press time

Bitcoin Price Review

Bitcoin, $BTC, again failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price has been trading below the 200-SMA, indicating bearish momentum.

On the other hand, we see that the Awesome Oscillator is in the negative zone with red bars, confirming bearish sentiment. The Bitcoin price is hovering near $93,300, with the immediate support zone likely around $92,950. Bitcoin traded at $93,826 as of press time, representing a 1.28% decrease over the last 24 hours.

4-hour BTC|USD Chart | Source: TradingView

Ethereum Price Review

Ethereum, $ETH, is also not among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Ethereum’s price is attempting to break out of the Bollinger Bands’ midline but still lacks strong momentum.

On the other hand, we see that th eAO shows weak positive bars, suggesting a lack of strong bullish momentum. Ethereum traded at $3,416 as of press time, representing a 1.14% decrease over the last 24 hours.

4-hour ETH/USD Chart | Source: TradingView

Ethena Price Review

Ethena, $ENA, is 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 Ethena price is trading near the edge of the cloud, indicating indecision in the trend.

On the other hand, we see that the ADX is at 13.22, showing weak trend strength. A break above $0.994 would confirm a bullish breakout, while rejection here could lead to a decline toward $0.965. Ethena traded at $0.9983 as of press time, representing a 6.35% increase over the last 24 hours.

4-hour ENA/USDT Chart | Source: TradingView

FTX Token Price Review

FTX Token, $FTT, 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 flipped bearish, with resistance near $3.94.

On the other hand, we see that the Volume Oscillator shows declining volumes, indicating weak conviction in the current price movement. FTX Token traded at $3.60 as of press time, representing a 1.41% increase over the last 24 hours.

4-hour FTT/USDT Chart | Source: TradingView

Optimism Price Review

Optimism, $OP, 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 Alligator lines are converging, indicating a lack of clear trend direction.

On the other hand, looking at other indicators, we see that the ADX is at 13.10, confirming low trend strength. Optimism traded at $1.90 as of press time, representing a 2.76% increase over the last 24 hours.

4-hour OP/USDT Chart | Source: TradingView

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