Daily Market Review: ETH, TON, BNB, ONDO, JASMY

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Bears are still dominant in today’s session as seen from the dropping global market cap which has recorded a 6.8% drop over the last 24 hours. The trading volume has, however, jumped by 77% to stand at $140B as of press time. 

Ethereum Price Review

Ethereum (ETH) is still experiencing consolidations today, as seen from its minimal price movements. Ethereum charts display a bearish trend, with the price recently crossing below the 20-period Simple Moving Average (SMA), indicated by the yellow line.

On the other hand, the Bollinger Bands are starting to expand, suggesting increased volatility. The price is currently near the lower band, indicating potential oversold conditions. The Average Directional Index (ADX) is above 25, which signifies a strong trend, however, as the trend is downward, it suggests bearish momentum. As of press time, the Ethereum price stood at $3,259, representing a 5.8% dump from its previous 24-hour price.

4-hour ETH/USD Chart | Source: TradingView

Toncoin Price Review

Toncoin (TON) is also is also facing massive corrections after this week’s surge. Charts show Toncoin in a descending channel pattern, signifying a controlled downtrend. The Woodies CCI indicates the momentum is currently on the downside, with values below the zero line.

On the other hand, the red vertical lines represent stop levels, and the price is currently above these levels, which suggests the downtrend is in a potential pause or reversal phase. As of press time, the Toncoin price stood at $6.69, representing a 5% dump from its previous 24-hour price.

4-hour TON/USDT Chart | Source: TradingView

Binance Coin Price Review

Binance Coin (BNB) also experienced some corrections in today’s session, as shown by its price movements. Looking at an in-depth analysis, we notice that the Supertrend indicator, shown in green (bullish) and red (bearish) areas, suggests that the market is in a state of flux with no clear trend.

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The BNB price is fluctuating around the Supertrend line, and the indicator is currently red, indicating a potential bearish sentiment. The ADX is below 25, which shows a lack of a strong trend in the market. As of press time, the BNB price stood at $590, representing a 2.95% dump from its previous 24-hour price.

4-hour BNB/USDT Chart | Source: TradingView

JasmyCoin Price Review

JasmyCoin (JASMY) is the other gainer in today’s session, and it also records some notable gains. Analysing Jasmy charts, we notice that the Ichimoku Cloud is showing mixed signals; the price is currently below the cloud, which is typically bearish, but the cloud ahead is green, which could suggest a future bullish trend.

The Money Flow Index (MFI) is around 55, indicating a balance between buying and selling pressure. There has been some volatility with sharp JasmyCoin price movements both up and down, but the price is currently in the middle of the cloud, suggesting uncertainty.  As of press time, the Jasmy price stood at $0.02281, representing a 2.3% pump from its previous 24-hour price.

4-hour JASMY/USDT Chart | Source: TradingView

Ondo Price Review

Ondo (ONDO) is among the few gainers in today’s session despite the general market downtrend. The Alligator indicator shows converging lines, which typically suggests a lack of a clear trend or a potential consolidation phase. The MACD indicator hovers around the zero line, again indicating the absence of solid momentum in either direction.

On the flip side, there appears to have been a recent bullish crossover (blue line crossing above the orange line) in the MACD, but given the lines are close to zero, this may not signify a robust bullish movement. As of press time, the Ondo price stood at $0.7863, representing a 3.8% pump from its previous 24-hour price.

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4-hour ONDO/USDT Chart | Source: TradingView

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