Today’s market session has seen bulls on the front foot, as seen from the increase in the global market cap. The total cap stood at $2.42T as of press time, representing a 0.2% increase over the last 24 hours. On the other hand, the trading volume has also surged by 11% over the same period to stand at $92.1B.
Bitcoin Price Review
Bitcoin (BTC) is facing corrections in today’s session after its earlier consolidations. An in-depth analysis shows that the chart shows significant volatility with a recent downward trend, as indicated by the drop beneath both the moving averages and the negative momentum in the Awesome Oscillator.
On the other hand, the Alligator moving averages are starting to converge and slope downwards, suggesting a strengthening bearish trend. The current price is struggling around the $66,763 level, with immediate resistance near the $68,103 level and support at $67,486. As of press time, the Bitcoin price stood at $66,681, representing a 4.13% drop from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) is a gainer in today’s session, as seen from its price movements. However, an in-depth analysis shows that Ethereum is also showing a bearish pattern, with a steep decline observed in the most recent candles. The Bollinger Bands are wide, indicating high volatility. The current price is below the 20-period SMA, which acts as dynamic resistance, hinting at continued bearish pressure.
On the other hand, we see that the woodies CCI is in the negative, also hinting at bearish signals. The Ethereum price stood at $3,459, representing a 4.2% drop over the last 24 hours.
MultiverseX Price Review
MultiverseX (EGLD) did not gain in today’s session, as seen from its price movements. The Supertrend indicator has turned red, suggesting a sell signal and the price is consistently below the indicator, reinforcing the bearish outlook.Â
On the other hand, the Money Flow Index (MFI) is low at around 15.29, indicating overselling, which might suggest a potential reversal or pullback soon. As of press time, the MultiverseX price stood at $33.13, representing a 6.6% drop from its previous 24-hour price.
Ethereum Classic Price Review
Ethereum Classic (ETC) is also not a gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the Ichimoku Cloud shows the price trading below the cloud, indicating bearish dominance. The cloud itself is expanding, suggesting increased bearish volatility.Â
On the other hand, we see that the recent candles are struggling near the lower boundary of the cloud, with a relatively low MFI, suggesting exhaustion in selling. As of press time, the Ethereum Classic price stood at $25.42, representing a 4.3% drop from its previous 24-hour price.
Solana Price Review
As the price movements show, Solana (SOL) is another gainer in today’s session. However, an in-depth analysis shows that Solana’s price navigates within an auto pitchfork, showing a bearish trend as it remains in the lower half.Â
On the other hand, we see that the MFI is slightly above the middle range, indicating moderate selling pressure. As of press time, the Solana price stood at $147.99, representing a 6.4% drop from its previous 24-hour price.
