The bears are in control of today’s session, as seen from the decrease in the global market cap. The total cap stood at $3.4T as of press time, representing a 0.7% increase over the last 24 hours, while the trading volume jumped by 40.21% over the same period to stand at $201.8B as of press time
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the 50-day, 100-day, and 200-day simple moving averages (SMA) are shown. Bitcoin’s price has fallen below all these SMAs, suggesting a bearish outlook in the short term.
On the other hand, we see that the Moving Average Convergence Divergence (MACD) is trending downward and is below the signal line, indicating bearish momentum. Bitcoin traded at $95,026 as of press time, representing a 2.14% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also not among the gainers in today’s session as also seen from the price movements. Looking at an in-depth analysis, we see that the Ethereum price is moving towards the lower band, indicating a potential oversold condition which might attract buyers.
On the other hand, we see that the Awesome Oscillator (AO) is showing decreasing green bars, transitioning to red, which suggests that the bullish momentum is weakening and could turn bearish. Ethereum traded at $3,603 as of press time, representing a 2.86% decrease over the last 24 hours.
Hedera Price Review
Hedera, $HBAR, is among the gainers in today’s session as also seen from its price movements today. Looking at an in-depth analysis, we see that the Hedera price is above the Ichimoku cloud, suggesting that the trend is bullish in the near term.
On the other hand, we see that the ADX (Average Directional Index) is above 25, which indicates a strong trend; here, given the upward price movement, it signals a strong bullish trend. Hedera traded at $0.2385 as of press time, representing a 23.73% increase over the last 24 hours.
Ripple Price Review
Ripple, $XRP, 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 the supertrend indicator is below the price and green, confirming the bullish trend.
On the other hand, we see that the Volume Oscillator: shows a noticeable decrease in volume, suggesting that the current bullish price movement might not be supported by volume, indicating potential vulnerability to a reversal. Ripple traded at $2.29 as of press time, representing a 18.56% increase over the last 24 hours.
IOTA Price Review
IOTA, IOTA, 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 the Alligator’s lines are well separated and trending upward, suggesting that the bullish trend is strong.
On the other hand, we see that the Money Flow Index (MFI) is high (around 91), indicating that the market might be entering overbought territory, which could lead to a potential pullback or consolidation. IOTA traded at $0.3334 as of press time, representing a 19.93% increase over the last 24 hours.
