Daily Market Review: BTC, ETH, MKR, ZRX, APT

Volatility continues to strike markets as many tokens now face corrections. This is seen from the dropping global market cap which stood at $2.5T as of press time representing a 5% drop in the last 24 hours as the trading volume dropped by 5.4% as well to stand at $152.69B as of press time.

Bitcoin Market Review

continues to dip as the crypto king now hits below $67K. Charts show the Bitcoin price in a downtrend after hitting a peak within the upper half of the pitchfork. However, the crypto king is now trading in the lower half of the pitchfork suggesting bearish momentum.

Looking at trends, the Average Directional Index (ADX) is above 20, indicating a certain strength in the current Bitcoin price trend. However, the ADX itself is declining, suggesting weakening momentum. The Bitcoin price stood at $66.5K as of press time representing a 3.4% drop within the last 24 hours.

Ethereum Price Review

has also failed to post gains in today’s session ahead of the general market dip. Charts show that the Ethereum price is currently testing the lower Bollinger Band, indicating potentially oversold conditions and a downtrend. The Bollinger Bands are moderately wide, suggesting a higher degree of volatility in recent times, though they appear to be contracting slightly, suggesting that volatility might decrease.

On the other hand, the Relative Strength Index (RSI) is near 35, close to the oversold threshold of 30, indicating that the selling pressure may be overextended. The Ethereum price stood at $3564 as of press time representing a 4.2% drop within the last 24 hours.

Maker Price Review

Maker (MKR) has, however, defied the odds to post some gains in today’s session. Looking at the charts, we notice a Supertrend indicator, which appears to be below the Maker price, indicating a bullish trend for Maker.

Looking at Momentum, we see the Money Flow Index (MFI) is above 50, suggesting that buying pressure is currently dominant. Amid the market performance, the Maker price stood at $3,101.89 as of press time representing a 6.2% pump within the last 24 hours.

Ox Protocol Price Review

Ox Protocol (ZRX) has also defied the odds to manage some gains in today’s bear market. Looking at ZRX charts, we notice the Ox Protocol price is above the jaw of the Alligator (blue line), indicating a potential uptrend.

Gauging Momentum, we notice the Commodity Channel Index (CCI) is hovering around the zero line, indicating that the momentum is neither strongly bullish nor bearish. Due to today’s pump, the Ox Protocol price stood at $1.36 as of press time representing a 2.7% pump within the last 24 hours.

Aptos Price Review

Aptos (APT) has however failed to record gains despite having pleasant performances in the last couple of days. However the current bearish trend is not as strong as seen from the Awesome Oscillator (AO), an indicator used in gauging trends, which is moving towards the zero line with red histograms suggesting a weak bear trend.

The Average Directional Index (ADX), another indicator used in gauging trends, also holds a value of 15 suggesting a weak trend on the coin. The Aptos price stood at $14.55 representing a 5.9% dump over the last 24 hours.