Daily Market Review: BTC, ETH, EOS, TRX, BNB

The lack of gainers in today’s session suggests that bears are dominating. The global market cap, at $2.37 as of press time, has dropped 3.57% over the last 24 hours to $2.37T, while the trading volume stood at $84.55B as of the same period, representing an 18% increase over the last day.

Bitcoin Price Review

Bitcoin (BTC) has fallen prey to today’s bear wave as evidenced by its price movements. An in-depth analysis shows a noticeable trend of the Bitcoin price moving below the lower Bollinger Band, indicating a strong bearish sentiment in the short term. The recent candles form below the 20 SMA (middle band of BB), which acts as resistance, confirming a continued downtrend.

On the other hand, the Volume Oscillator is below zero, suggesting a decrease in trading volume during the downward price movement. As of press time, the Bitcoin price stood at $64,321, representing a 3.6% decrease from its previous 24-hour price.

2-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) also failed to post gains in today’s session as it fell prey to the bear wave. An in-depth analysis shows that the SuperTrend indicator is above the Ethereum price, which suggests a bearish trend.

The Ethereum price has recently moved below the SuperTrend line, reinforcing the bearish outlook. On the other hand, the Awesome Oscillator (AO) shows red bars below the zero line, indicating bearish momentum. As of press time, the Ethereum price stood at $3,156, representing a 2.99% decrease from its previous 24-hour price.

2-hour ETH/USD Chart | Source: TradingView

EOS Price Review

EOS (EOS) is among the few gainers in today’s session as evidenced by its price movements. Looking at in-depth analysis, we notice that the Alligator indicator shows a bearish alignment with the jaw (blue), teeth (red), and lips (green) lines trending down. The recent EOS price is below the Alligator’s lines, which is a bearish signal.

On the other hand, the Money Flow Index (MFI) is relatively high at around 73, indicating that the market is entering overbought territory, suggesting potential for a price pullback. As of press time, the EOS price stood at $0.8718, representing a 1.14% increase from its previous 24-hour price.

2-hour EOS/USDT Chart | Source: TradingView

Tron Price Review

Tron (TRX) has also defied the odds to emerge among the gainers in today’s session. Looking at an in-depth analysis, we notice the Ichimoku Cloud shows mixed signals with the price trading above the cloud, which is usually bullish, but the cloud ahead is turning red, suggesting potential resistance or a trend change.

On the other hand, the ADX is around 20, indicating a weak to moderate trend strength.

The latest candles form within the cloud, indicating indecision and a potential trend change. During the time of writing, the Tron price stood at $0.114, representing a 0.26% increase from its previous 24-hour price.

2-hour TRX/USDT Chart | Source: TradingView

Binance Coin Price Review

However, Binance Coin (BNB) has fallen prey to the bear force as it failed to post gains in today’s session. Looking at an in-depth analysis, we notice that the BNB price is within the pitchfork, indicating that it’s in a normal trading range, and recently the price has bounced off the median line, which could act as either support or resistance.

On the flip side, the Volume Oscillator is below zero, which may suggest less conviction in the current price trend. During the writing, the BNB price was $607.81, representing a 0.15% decrease in valuation over the last day.

2-hour BNB/USDT Chart | Source: TradingView

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