Daily Market Review: BTC, ETH, AKT, PEPE, CHZ

By BlockchainReporter
about 1 month ago
BTC ETH CHZ AKT

Today’s market session has started with bears still in control, as evidenced by the continuous drop in the global market cap. As of press time, the global market cap stood at $2.28T, representing a 3.14% increase over the last 24 hours.

Bitcoin Price Review

Bitcoin (BTC) is also facing massive consolidations in today’s session as evidenced by the minimal upward movements on its price. Looking at an in-depth analysis, we notice that the Bitcoin price appears to be a downtrend, with the price below all three Alligator lines, suggesting bearish momentum.

The MACD (Moving Average Convergence Divergence) at the bottom shows a bearish crossover, with the MACD line crossing above the signal line. This indicates shifting momentum from bearish to bullish. As of press time, the Bitcoin price stood at $63,881, representing a 1% increase from its previous 24-hour price.

4-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum (ETH) also faces consolidations in today’s session but has managed some minor gains. Looking at an in-depth analysis, Ethereum price charts show a downtrend with some price stabilization as the last few candlesticks are trading sideways between the middle and lower bands.

On the other hand, the Awesome Oscillator (AO) indicates bearish momentum as it shows red bars below the zero line. The current bar is smaller than the previous one, suggesting that while the momentum is still bearish, it might weaken. As of press time, the Ethereum price stood at $3,093, representing a 0.2% increase from its previous 24-hour price.

4-hour ETH/USD Chart | Source: TradingView

Akash Network Price Review

Akash Network (AKT) is today’s top gainer as evidenced by its price movements in today’s session. Analyzing Akash Network price charts, we notice that the price is shown in a sustained downtrend with the Supertrend indicator in red, reaffirming the bearish trend.

On the flip side, the ADX (Average Directional Index) at the bottom of the chart is above 20, which indicates a strong trend. The fact that the ADX is rising suggests that the downtrend is gaining strength. As of press time, the Aksh Network price stood at $3.98, representing a 12% increase from its previous 24-hour price.

4-hour AKT/USDT Chart | Source: TradingView

Pepe Price Prediction

Pepe (PEPE) is also among the top gainers in today’s session, as the meme coin posted the second-highest gains today. Analyzing PEPE charts shows that the Pepe price is below the cloud, indicating a bearish market condition. Additionally, the latest candlesticks are trading below the baseline (Kijun-sen), which may reinforce the bearish outlook.

On the flip side, the MFI (Money Flow Index) is around 53, which indicates neither overbought nor oversold conditions. The MFI’s position in the middle of the range suggests indecision in the market. As of press time, the Pepe price stood at $0.00000533, representing a 5.9% increase from its previous 24-hour price.

4-hour PEPE/USDT Chart | Source: TradingView

Chilliz Price Review

Chilliz (CHZ) is also among the top gainers today, posting notable gains in today’s session. Analyzing Chilliz charts, we notice that a bearish pennant pattern is annotated, suggesting a potential continuation of the downtrend if the Chilliz price breaks below the pennant.

On the other hand, the CCI (Commodity Channel Index) fluctuates around the zero line, indicating that the price is moving near the average and showing no strong signs of a breakout in either direction. As of press time, the Chilliz price stood at $0.1093, representing a 6% increase from its previous 24-hour price.

4-hour CHZ/USDT Chart | Source: TradingView

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