Daily Market Review: ETH, OM, NEO, XRP, APT

ethereum space

Bears still have a front foot on the markets as seen from the drop in the global market cap. The total cap stood at $2.63T as of press time, representing a 0.26% drop over the last 24 hours while the trading volume dropped by 13% during the same period to $79.47B as of the same period. 

Ethereum Price Review

Ethereum (ETH) is still facing consolidations in today’s market as seen from its price movements. The Ethereum price fluctuates within the Bollinger Bands, indicating some volatility. The recent *ETH* price seems to be towards the lower end of the bands, which could suggest the potential for a bounce if it’s seen as a support level.

On the other hand, The 20 SMA (Simple Moving Average) is above the current price, which may act as resistance. A downward trend is indicated as the price is below the 20 SMA. The ADX is around 18.77, which suggests a weak trend. Generally, an ADX below 25 indicates a lack of a strong trend. As of press time, the Ethereum price stood at $3,454, representing a 1.4% dump from its previous 24-hour price.

4-hour ETH/USD Chart | Source: TradingView

Mantra Price Review

Mantra (OM) has emerged among the top gainers today despite the general bearish trend. Analysing Mantra charts, we notice that the Supertrend indicator is currently green and under the price, signaling a bullish trend.

On the flip side, the Woodies CCI oscillates around the zero line, indicating that the price is moving in line with the average price. The recent peak indicates a possible overbought situation that corrected shortly after. During writing, the Mantra price stood at $0.9512, representing a 1% pump from its previous 24-hour price.

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4-hour OM/USDT Chart | Source: TradingView

NEO Price Review

Neo (NEO) is facing corrections amid recent pumps as the altcoin failed to post gains. Looking at an in-depth analysis of NEO charts, we notice that the NEO price is above the Alligator’s lines, which is a bullish sign. The lines are ordered with the jaw at the bottom, the teeth in the middle, and the lips on top, indicating an ongoing uptrend.

On the other hand, the MACD (Moving Average Convergence Divergence) line is above the signal line. Still, it seems to converge, hinting at a potential slowdown in upward momentum or a possible bearish reversal if they cross.  During writing, the NEO price stood at $22.53, representing a 2% drop from its previous 24-hour price.

4-hour NEO/USDT Chart | Source: TradingView

Ripple Price Review

Ripple (XRP) has also faced corrections after its impressive price increase yesterday. The Ripple price is fluctuating around the cloud, indicating a lack of a strong trend. The cloud ahead of the price is red, suggesting potential resistance.

On the other hand, the MFI (Money Flow Index) is just above 34, which is closer to the oversold territory. This could indicate that the selling pressure might be subsiding, and if other indicators are confirmed, there might be a potential for price reversal. During writing, the *XRP* price stood at $0.5955, representing a 2.4% drop from its previous 24-hour price.

4-hour XRP/USDT Chart | Source: TradingView

Aptos Price Review

Aptos (APT) is also facing corrections amid its recent pumps, as the altcoin failed to post gains in today’s session. Looking at an in-depth analysis, we notice that the Aptos price is within the pitchfork, indicating a downtrend. It’s below the median line and testing the lower bounds of the pitchfork.

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On the flip side, the RSI (Relative Strength Index) is near 28.58, which is deep in the oversold territory. This could suggest that the asset is oversold, and there might be potential for a bullish reversal if other conditions align. During writing, the Aptos price stood at $11.39, representing a 5.9% drop from its previous 24-hour price.

4-hour APT/USDT Chart | Source: TradingView

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