Daily Market Review: BTC, ETH, XRP, ADA, SOL

The bears are taking back control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.64T as of press time, representing a 7.25% decrease over the last 24 hours, while the trading volume jumped by 3.65% over the same period to stand at $165.46B as of press time.

Bitcoin Price Review

Bitcoin, $BTC, has failed to post gains in today’s session, as seen from the price movements. Looking at an in-depth analysis, we see that BTC has been in a sharp decline, with prices following a downward-sloping channel.

The MFI shows an oversold condition, suggesting a potential rebound if buying pressure increases. However, the overall trend remains bearish unless a breakout above resistance occurs. Bitcoin traded at $80,175 as of press time, representing a 6.95% decrease over the last 24 hours.

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Ethereum Price Review

Ethereum, $ETH, is also not among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that ETH has been consistently moving downward, respecting moving averages as resistance.

On the other hand, we see that the ADX above 40 confirms a strong downtrend. A relief rally might occur, but resistance around $2,500 remains a key barrier. Ethereum traded at $2,136 as of press time, representing a 9.4% decrease over the last 24 hours.

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Ripple Price Review

Ripple, $XRP, is also not a gainer in today’s session as also seen from its price movements. Looking at an in-depth analysis we see that XRP has been in a downtrend, with price action staying below the Supertrend resistance zone.

On the other hand, we see that the ADX indicates the downward momentum is strong, meaning a further decline could occur unless buyers step in. Ripple traded at $2.04 as of press time, representing a 8.22% decrease over the last 24 hours.

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Cardano Price Review

Cardano (ADA) Price Prediction for February 24Cardano, $ADA, 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 ADA is testing the lower Bollinger Band and has a very low MFI, which could lead to a short-term bounce.

However, the trend remains bearish, and any rally must break above $0.66 to confirm a shift in momentum. Cardano traded at $0.6044 as of press time, representing a 9.61% increase over the last 24 hours.

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Solana Price Review

Solana, $SOL, 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 Solana has been in a prolonged decline, with the Ichimoku cloud acting as a major resistance.

On the other hand, we see that the volume oscillator suggests weak buying pressure, making further downside possible. Solana traded at $132.56 as of press time, representing a 5.67% decrease over the last 24 hours.