Daily Market Review: BTC, ETH, ORDI, MINA, SATS

Bears still have an edge on the markets today as shown by the global market cap which has recorded a 8% decrease in the last 24 hours to take the total market cap back down to 1.54T as of press time. The trading volume also declined by 29% over the same period to $39.6M.

Bitcoin Price Analysis

Bitcoin has again failed to gain today as it dropped back below $43K with the Bitcoin price standing at $42.2K as of press time representing a 1.7% dip over the last 24 hours. The trading volume has, however, jumped by 14% within the same period to $25.9B as of press time.

An in-depth analysis of 24-hour BTC/USD charts shows that bears are taking control of the BTC markets. This is seen as the Relative Strength Index indicator, (RSI), which now appears to be headed south, showing bearish prospects. The MACD, on the other hand, is reverting toward the red zone backing the bear prospects.

BTC 1-day chart | Source: TradingView

Ethereum Price Analysis

Ethereum (ETH) has also fallen prey to todays bear wave with the Ethereum price standing at $2270 as of press time representing a 2.8% dump over the last 24 hours. The trading volume has jumped by 7% within the same period to $11.2B as of press time.

Looking at an in-depth analysis of 24-hour ETH/USD charts, we see that bulls and bears are struggling for control of Ethereum markets as seen from the MACD, which is currently reverting from the negative region towards the zero line, suggesting fading bearishness on ETH. On the other hand, the RSI is on a southern trajectory suggesting bear action on the Ethereum price as well.

ETH 1-day chart | Source: TradingView

ORDI Price Analysis

ORDI (ORDI) has, however, managed to post gains despite the bear wave with the ORDI price standing at $62.4 as of press time representing a 3.2% pump over the last 24 hours. The trading volume has jumped by 27% within the same period to $300M as of press time.

Looking at an in-depth analysis of 24-hour ORDI/USDT charts, we see that bulls are in control of ORDI markets as seen from the MACD, which is currently reverting from the negative region towards the zero line, suggesting bullishness on ORDI. On the other hand, the RSI is on a northern trajectory, backing the bullish prospects on the ORDI price.

ORDI 1-day chart | Source: TradingView

Mina Price Analysis

Mina (MINA) is another gainer today with the Mina price standing at $1.17 as of press time representing a 1.1% pump over the last 24 hours. The trading volume has jumped by 18% within the same period to $103M as of press time.

Looking at an in-depth analysis of 24-hour MINA/USDT charts, we see that bulls are in control of MINA markets as seen from the MACD, which has shifted to the green zone, suggesting bullishness on Mina. On the other hand, the RSI is on a northern trajectory suggesting bullish prospects on the Mina price.

MINA 1-day chart | Source: TradingView

SATS Price Analysis

SATS (1000SATS) is our last gainer with the SATS price standing at $6.2 as of press time representing a 4.5% pump over the last 24 hours. The trading volume has jumped by 150% within the same period to $116M as of press time.

Looking at an in-depth analysis of 24-hour SATS/USDT charts, we see that bulls are in control of SATS markets as seen from the MACD, which has shifted to the green zone, suggesting bullishness on SATS. On the other hand, the RSI is on a northern trajectory as it heads for 50, backing the bullish prospects on the SATS price.

SATS 1-day chart | Source: TradingView