Today’s session is being controlled by bears as seen from the drop in the global market cap today. The total cap stood at $2.31T as of press time, representing a 3% drop over the last 24 hours while the trading volume jumped by 8.4% over the same period to stand at $57B.
Bitcoin Price Review
Bitcoin (BTC) has fallen prey to today’s bear wave as evidenced by its price movements today. Looking at in-depth analysis, we see that [ccpw id=60415] is trading near the lower Bollinger Band, indicating that it might be in a potentially oversold region or strong downward pressure.
On the other hand, the Awesome Oscillator (AO) is showing red bars below the zero line, which indicates bearish momentum in the market. The recent Bitcoin price action is below the 20 SMA, which suggests a short-term bearish trend. As of press time, the Bitcoin price stood at $62,847, representing a 1.3% decrease from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) has also fallen prey to bear action in today’s session as seen from its price movements today. Analyzing [ccpw id=60480] price charts, we see that the Alligator Indicators are intertwined, indicating a lack of a clear trend and possibly signaling a ranging market.Â
On the other hand, the Relative Strength Index (RSI) is near the 50 level, which typically represents a neutral market momentum. The Ethereum price is fluctuating around the moving averages, reinforcing the lack of a clear direction. As of press time, the Ethereum price stood at $3,166, representing a 4.56% decrease from its previous 24-hour price.
Helium Price Review
Helium (HNT) is among the few gainers today as seen from its impressive price actions. An in-depth analysis of Helium price charts shows that the recent candles are above the Supertrend line, indicating a bullish trend.
On the flip side, we see that the Commodity Channel Index (CCI) is showing a peak and turning downwards, suggesting a potential pullback after a surge. The overall trend is up, as indicated by the price action being above the Supertrend line. As of press time, the Helium price stood at $5.74, representing a 5.53% increase from its previous 24-hour price.
Galxe Price Review
Galxe (GAL)has however fallen prey to the bear wave as evidenced by its massive price drop in today’s session. Looking at an in-depth analysis, we see that the Galxe price is below the cloud, indicating bearish conditions. There’s also a sharp downward move, suggesting strong bearish momentum.
On the other hand, we notice that the Money Flow Index (MFI) is very low, which could indicate an oversold condition. The current Galxe price action is bearish as it remains below the cloud. As of press time, the Galxe price stood at $3.46, representing a 22.51% decrease from its previous 24-hour price.
Stride Price Review
Stride (STRD) was also another gainer in today’s session despite the general bear wave. An in-depth analysis shows that the Stride price is in the upper half of the Pitchfork channel, indicating bullishness. However, resistance is encountered at the median line.
On the other hand, looking at the Volume Oscillator, we see a significant peak on the Volume Oscillator corresponds to a price surge, suggesting strong buying interest. While there has been a recent upward move, the Stride price is currently encountering resistance, and the trend’s continuation will depend on whether it can break through the median line of the Pitchfork. As of press time, the Stride price stood at $2.66, representing a 21.5% increase from its previous 24-hour price.
