Today’s market session has seen loose out to bears as evidenced by the drop in the global market cap. The total cap stood at $2.26T as of press time, representing a 3.32% decrease over the last 24 hours while the trading volume stood at $64.02B, representing a 1% decrease over the last 24 hours.
Bitcoin Price Review
Bitcoin (BTC) is still facing consolidations as it continuous to trade under $61K. Looking at an in-depth analysis of Bitcoin price charts, we see that a trend where the price has recently been in a downward trajectory. It has tested the lower Bollinger Band and has since been oscillating around the 20 SMA, indicating possible consolidation.
Looking at other indicators, we see the Awesome Oscillator is predominantly red and below the zero line, suggesting bearish momentum. The Bollinger Bands are relatively wide, indicating some level of volatility. As of press time, the Bitcoin price stood at $60,968, representing a 0.06% increase from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) is also consolidating as evidenced by its price movements in today’s session. Looking at an in-depth analysis, we see that the Ethereum’s price is also in a downtrend as it remains below key moving averages. The recent crossover of moving averages to the downside further supports bearish sentiment.
On the other hand, we see the Woodie’s CCI is well below zero, reinforcing the strong bearish trend. As of press time, the Ethereum price stood at $2,919, representing a 0.07% increase from its previous 24-hour price.
ImmutableX Price Review
ImmutableX (IMX) is among the gainers today as seen from the price movements in today’s session. Looking at an in-depth analysis, we see that the ImmutableX price is trading below the SuperTrend indicator, suggesting a bearish outlook. The Ichimoku Cloud is red and expanding, which further indicates a strong downtrend.
Looking at technical analysis, we see the ADX is relatively high at 30.09, indicating that the downtrend is strong and likely to continue. As of press time, the ImmutableX price stood at $2.29, representing a 6.08% increase from its previous 24-hour price.
Core DAO Price Review
Core DAO (CORE) is also another gainer in today’s session as evidenced by its price movements in today’s session. Looking at an in-depth analysis we see that the Core DAO price has been in a consistent downtrend, indicated by its position below the Ichimoku Cloud. Recent price action shows minor recovery attempts within a bearish context.
Looking at other indicators, we see the MACD is below zero, and its histogram bars are increasing negatively, signaling bearish momentum. As of press time, the Core DAO price stood at $1.7, representing a 4.44% increase from its previous 24-hour price.
Hedera Price Review
Hedera (HBAR) is also another gainer in today’s session as seen from its price movements in today’s session. Looking at in-depth analysis, we see that the Hedera price chart shows a bearish trend line breakout, with price consolidating within a descending parallel channel. This suggests that the downtrend could continue.
On the other hand, we see the Volume Oscillator is negative, highlighting weak buying pressure during the price decline. As of press time, the Hedera price stood at $0.109, representing a 2.3% increase from its previous 24-hour price.
