The bears are still in total control in today's session, as seen from the decrease in the global market cap. The total cap stood at $2.03T as of press time
Global cryptocurrency market capitalization decreased on Friday morning as the bears remained in charge, despite the fact that most of the top ten cryptocurrencies experienced little price changes.
The total market cap stood at $2.03 trillion as of press time, representing a 0.20% decrease over the last 24 hours, while the trading volume also dropped by 16.7% over the same period to stand at $59.04 billion as of press time.
Bitcoin Price Review
Bitcoin, BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the chart shows Bitcoin trading slightly above $57,800 with a moderate bullish sentiment as indicated by the upward slope of the 50, 100, and 200-period simple moving averages (SMAs). The price is consolidating near the 50-period SMA, which may act as immediate support.
On the other hand, we see that the Volume oscillator shows a decline, indicating weakening momentum, and the price is likely to test nearby support levels at $57,605 and $57,089. A breakdown below these levels could bring the 200-period SMA into play as the next support at $56,117. Bitcoin traded at $57,918 as of press time, representing a 0.02% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, ETH, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the price has touched the upper boundary of the cloud, acting as resistance. However, it is currently trading close to $2,342, with the Money Flow Index (MFI) at 72.81, suggesting an overbought condition.
If the MFI falls further, we could see a retracement toward the $2,336 support level. On the upside, breaking the $2,351 resistance could fuel a rally. Ethereum traded at $2,344 as of press time, representing a 0.72% decrease over the last 24 hours.
Quant Price Review
Quant, QNT, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Quant is displaying a strong upward trend, as shown by the price riding along the upper band of the Bollinger Bands. The price is currently around $76.8, with the Awesome Oscillator showing positive momentum, though a decrease in green bars indicates that momentum is slowing.
On the other hand, we see that the nearest support lies around the middle Bollinger Band at $75.2. A pullback toward this level could provide a better entry, while resistance stands at the upper band near $79.3. Quant traded at $76.63 as of press time, representing a 7.99% increase over the last 24 hours.
Ripple Price Review
Ripple, XRP, 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 XRP is exhibiting bullish behavior after a recent price spike to $0.570, followed by a slight pullback. The Alligator indicator shows the lines widening, indicating a continued bullish trend, although the momentum seems to have decreased slightly as the price hovers around $0.563.
The Woodies CCI is mixed, suggesting some indecision. If the price holds above $0.5646, further upside is possible, while a break below the $0.5582 support could lead to a deeper correction. Ripple traded at $0.562 as of press time, representing a 4.92% increase over the last 24 hours.
MANTRA Price Review
MANTRA, OM, 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 OM/USDT is currently experiencing a slight pullback from its recent highs around $1.13. The Supertrend indicator suggests that support lies near $1.10, with the Volume Oscillator indicating reduced trading volume, which may slow further upward movement.
A breakdown of $1.1097 support could see the price drop towards the $1.05 region, while a bullish reversal would require overcoming $1.1331 to regain momentum. MANTRA traded at $1.12 as of press time, representing a 3.81% increase over the last 24 hours.
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