Daily Market Review: BTC, ETH, TON, HNT, NOT

The bears are still in total control in todays session, as seen from the decrease in the global market cap. The total cap stood at $1.98T as of press time, representing a 0.61% decrease over the last 24 hours, while the trading volume also dropped by 7.5% over the same period to stand at $69.32B as of press time.

Bitcoin Price Review

Bitcoin, $BTC, has failed to post gains in todays session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is currently hovering near the lower Bollinger Band, indicating that the asset might be oversold. This suggests potential buying opportunities as the price tends to revert to the mean (middle BB line). However, the trend is still bearish as the price remains below the moving average, indicating continued downward pressure.

On the other hand, we see that the Volume Oscillator is showing negative divergence (-21.78%), meaning that selling pressure is dominant and momentum is weakening. A decrease in selling volume could hint at potential consolidation before a reversal or further decline. Bitcoin traded at $56,413 as of press time, representing a 1.06% decrease over the last 24 hours.

4-hour BTC/USD Chart | Source: TradingView

Ethereum Price Review

Ethereum, ETH, has also failed to post gains in todays session, as seen from its price movements. Looking at an in-depth analysis, we see that the chart is showcasing a bearish pennant, typically signaling the continuation of the downtrend following the consolidation phase. If the price breaks below the support level of the pennant, a further downward move is expected.

On the other hand, we see that the Woodies CCI (Commodity Channel Index) is currently at -56.58, suggesting that Ethereum is in the oversold territory. Despite the bearish pennant pattern, a potential short-term reversal may be on the horizon if buyers step in. Ethereum traded at $2,376 as of press time, representing a 1.23% decrease over the last 24 hours.

4-hour ETH/USD Chart | Source: TradingView

Toncoin Price Review

Toncoin, $TON, is among the gainers in todays session as seen from its price movements as well. Looking at an in-depth analysis, we see that the Toncoin price is attempting a bullish crossover with the alligator indicator, as the price is moving slightly above the blue line (Jaw). This indicates that Toncoin may be entering a bullish phase, with potential upward momentum building if the crossover is confirmed.

On the other hand, we see that the ADX (Average Directional Index) has a reading of 37.14 indicates a moderately strong trend. If the trend strengthens further, buyers may take control, leading to more upward movement. Toncoin traded at $4.90 as of press time, representing a 7.1% increase over the last 24 hours.

4-hour TON/USDT Chart | Source: TradingView

Helium Price Review

Helium, $HNT, is also among the gainers in today‘s session as seen from its price movements as well. Looking at an in-depth analysis, we see that Helium’s price is currently within the Ichimoku cloud, indicating indecision in the market. A break above the cloud would confirm bullish momentum, while a breakdown below could signal continued bearish action. The lagging span (Chikou) is also nearing the price, suggesting a potential reversal if it crosses over.

On the other hand, we see that the MFI (Money Flow Index) is at 61.82, which suggests mild overbought conditions. If the index climbs further, it could indicate a potential correction, though as of now, the price still has room to grow. Helium traded at $8.35 as of press time, representing a 5.85% increase over the last 24 hours.

4-hour HNT/USD Chart | Source: TradingView

Notcoin Price Review

Notcoin, $NOT, is also among the gainers in todays session as also seen from its price movements. Looking at an in-depth analysis, we see that the Notcoin price is trading within the pitchfork channel, currently near the lower boundary, suggesting possible upward movement toward the median line. If it holds the lower bound, the next target would be the middle or upper lines, indicating potential bullish continuation.

On the other hand, we see that the MFI (Money Flow Index) has a reading of 45.79, Notcoin shows neutral momentum, allowing room for price action in either direction. If buying interest increases, the price could trend upwards. Otherwise, selling pressure may push it further down. Notcoin traded at $0.007654 as of press time, representing a 2.51% increase over the last 24 hours.

4-hour NOT/USD Chart | Source: TradingView