Today’s market session saw bears in control, as evidenced by the drop in the global market cap. As of press time, the total cap stood at $2.54T, representing a 0.4% decrease over the last 24 hours. On the other hand, the trading volume stood at $52.19B as of press time, representing a 0.3% decrease over the same period.
Bitcoin Price Review
Bitcoin (BTC) faces massive corrections today, as seen from its price movements. An in-depth analysis shows that the Awesome Oscillator (AO) shows a deep negative value, confirming bearish momentum. This decline has been abrupt, as shown by the size of the red histogram bars.
The current price hovers near the lower Bollinger Band, suggesting potential support around $67,600. Resistance might be at the 20-period SMA near $69,400. As of press time, the Bitcoin price stood at $67,746, representing a 2.3% drop from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) is also correcting in today’s session, as seen from its price movements. An in-depth analysis shows that the CCI is in the oversold region, indicating the potential for a short-term rebound or consolidation, although the trend remains bearish.
On the other hand, immediate support is around $3,542, with resistance likely near the Alligator’s green line around $3,650. As of press time, the Ethereum price stood at $3,540, representing a 3.5% drop from its previous 24-hour price.
Akash Price Review
Akash (AKT) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that Akash Network has shown a significant recent uptick in its last candle. However, the trend is generally bearish, as the price trading below the SuperTrend indicator indicates.
On the other hand, the RSI has spiked to 63, which reflects increasing bullish momentum in the short term and potentially signals a trend reversal or pullback. As of press time, the Akash price stood at $4.43, representing a 5.9% jump from its previous 24-hour price.
Gnosis Price Review
Gnosis (GNO) was another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the MFI is at 78, indicating that the market may be approaching overbought conditions, which could lead to a pullback.
On the other hand, the support might be at the top boundary of the Ichimoku cloud, around $344, while resistance can be anticipated at the recent high of around $350. As of press time, the Gnosis stood at $349.46, representing an 8.8% jump from its previous 24-hour price.
Injective Price Review
Injective (INJ) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that Injective price charts show a bullish rebound, with the price increasing within an auto pitchfork, suggesting controlled upward momentum.
On the other hand, the volume oscillator is negative, which might suggest a lower conviction for the recent price increase. As of press time, the Injective stood at $29.57, representing a 10.2% jump from its previous 24-hour price.
