Bears still have the upper hand in today’s session, as seen from the massive drop in the global market cap. The global market cap stood at $2.47T as of press time, representing a 6.5% drop over the last 24 hours while the trading volume pumped by $125.2B over the same period.
Ethereum Price Review
Ethereum (ETH) is still facing massive bearish activity as seen from today’s massive drop in valuation. The [ccpw id=60480] price is trending below the 20-period Simple Moving Average (SMA), indicating a bearish trend. On the other hand, the Bollinger Bands are widening, suggesting increased market volatility. The Ethereum price has moved and closed below the lower band, which sometimes signals an oversold condition.
On the flip side, the Moving Average Convergence Divergence (MACD) is below the signal line and zero, which indicates bearish momentum. The Ethereum price stood at $66,991 as of press time, representing a 3.4% drop from its previous 24-hour price.
Sui Price Review
Sui (SUI) is also facing corrections today as it posted a drop of 6.5% over the last 24 hours. Looking at an in-depth analysis of Sui charts, the Alligator indicator shows intertwined lines, indicating a lack of a clear trend or a consolidating market.
On the other hand, the Money Flow Index (MFI) is around 42.89, which is neither overbought nor oversold, aligning with the consolidation signal from the Alligator indicator. The Sui price stood at $1.76 as of press time, representing a 6% drop from its previous 24-hour price.
4-hour SUI/USDT Chart | Source: TradingView
Ethena Price Review
Ethena (ENA) has, however, managed to post gains in today’s session despite the general market downturn. Looking at an in-depth analysis, we notice that the Supertrend indicator is below the price and green, suggesting a bullish trend.
Conversely, the Average Directional Index (ADX) is around 35.53, indicating a strong trend (typically, an ADX above 25 suggests a strong trend). The Ethena price stood at $0.8957 as of press time, representing a 30.2% pump from its previous 24-hour price.
Verge Price Review
Verge (XVG) is another in today’s session as the altcoin also posted notable gains. The Verge price is above the median line of the Pitchfork, indicating a bullish trend. This could possibly mean a price pump in the short term.
On the other hand, the Awesome Oscillator (AO) shows green bars above the zero line, suggesting bullish momentum is increasing. The Verge price stood at $0.0116 as of press time, representing a 28.96% pump from its previous 24-hour price.
Litecoin Price Review
Litecoin (LTC) is another gainer today, as the altcoin also posted notable gains during today’s session. Looking at in-depth analysis, the Ichimoku Cloud shows the Litecoin price is in between the cloud, indicating a potential trend change or consolidation.
On the other hand, the Commodity Channel Index (CCI) is around 65.29, which is within the normal range, neither overbought nor oversold, suggesting moderate momentum without extreme conditions. The LTC price stood at $106.73 as of press time, representing an 8.99% increase from its previous 24-hour price.
