Today’s market session has seen quite some consolidation as evidenced by the minimal movement in the global market cap. The total market cap stood at $2.63T as of press time, representing a 1.25% drop over the last 24 hours. The trading volume has, however, jumped by 26% over the same period to stand at $81.3B over the last 24 hours.
Bitcoin Price Review
Bitcoin (BTC) faces corrections ahead of the easter weekend’s pump as the crypto king consolidates around $69K. Looking at [ccpw id=60415] price charts, the highlighted pattern suggests a head and shoulders pattern which typically indicates a reversal from a bullish to a bearish trend. We see the left, head, and right shoulder formation. The “neckline” (support level) has been broken, suggesting a potential drop in the Bitcoin price.Â
The chart shows a target: the potential downside the price might reach after such a bearish breakout. Additionally, the Moving Average Convergence Divergence (MACD) at the bottom shows a bearish crossover, which supports the downtrend hypothesis. The Bitcoin price stood at $69,431 as of press time, representing a 2.2% drop from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) is also facing a bad day as the altcoin king posted a drop in valuation in today’s session. The [ccpw id=60480] price seems to be moving sideways with a slight bearish tilt as it’s below the 20-period Simple Moving Average (SMA), the middle line of the Bollinger Bands.Â
The recent Ethereum price action is towards the lower end of the Bollinger Bands, suggesting that ETH might be in a short-term downtrend or experiencing increased volatility. The Awesome Oscillator (AO) at the bottom is showing red bars, indicating bearish momentum is present. The Ethereum price stood at $3,482 as of press time, representing a 4.2% decrease from its previous 24-hour price.
Litecoin Price Review
Litecoin is also facing corrections in today’s session amid its recent pumps. Looking at an in-depth analysis of LTC charts, we notice the current Litecoin price is slightly below the SuperTrend line, suggesting a possible bearish trend.
The Money Flow Index (MFI) is around 38.87, closer to the oversold territory but not yet indicative of a strong buy signal. The Litecoin price stood at $99.14 as of press time, representing a 5.15% decrease from its previous 24-hour price.
Sui Price Review
However, Sui (SUI) has managed to post some minor gains in today’s session despite the general downtrend. Looking at an in-depth analysis of Sui charts, we notice that the Sui price action is somewhat flat, oscillating around the moving averages, without a clear directional trend.
On the other hand, the ADX (Average Directional Index) is at 11.17, indicating a very weak trend or no current trend. The Sui price stood at $1.93 as of press time, representing a 0.8% increase from its previous 24-hour price.
BOOK OF MEME Price Review
BOOK OF MEME (BOME) is another gainer in today’s bear market, as the meem coin retakes centre stage after posting notable gains in today’s session. The BOOK OF MEME price fluctuates around the Ichimoku Cloud, indicating uncertainty in the market direction.
On the flip side, the RSI (Relative Strength Index) is near 57.81, which is neutral and doesn’t suggest an overbought or oversold condition. The BOOK OF MEME price stood at $0.01619 as of press time, representing a 2.5% increase from its previous 24-hour price.
