Today’s market session saw bears take over, as seen from the drop in the global market cap. The total cap stood at $2.56T as of press time, representing a 3% drop in the last 24 hours. On the other hand, the trading volume stood at $102.9B, representing a 37% decrease over the last 24 hours.
Bitcoin Price Review
Bitcoin (BTC) is also facing corrections in today’s session, as seen from the price movements today. An in-depth analysis shows that the Bitcoin chart indicates a downtrend, with the price moving under the 20 SMA on the Bollinger Bands (BB), which has started to act as a dynamic resistance. The narrowing BB suggests decreased volatility.
On the other hand, the Awesome Oscillator (AO) is negative and hasn’t shown signs of crossing above zero, indicating that bearish momentum is still dominant. As of press time, the Bitcoin price stood at $69,320, representing a 0.09% drop from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) also faces price drops in today’s session, as seen from its price movements. An in-depth analysis shows that Ethereum’s chart shows a steep downtrend followed by a consolidation phase. The Alligator indicator suggests a bearish trend as the price is under the jaws of the Alligator (the blue line).
On the other hand, the ADX is significantly high at 48.36, indicating a powerful downward trend. As of press time, the Ethereum price stood at $3,688, representing a 0.12% drop from its previous 24-hour price.
ORDI Price Review
As seen from its price movements, ORDI (ORDI) is a gainer in today’s session. An in-depth analysis shows that it displays a range-bound movement indicated by the Supertrend staying green and the price mostly hovering around the Supertrend line.
On the other hand, the RSI is neutral at 50.16, corresponding to the price action showing neither strong bullish nor bearish momentum. This suggests a potential accumulation phase or indecisiveness among traders. As of press time, the ORDI price stood at $62.02, representing a 0.12% pump from its previous 24-hour price.
Tron Price Review
Tron (TRX) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that TRON’s chart shows the price action weaving around the Ichimoku Cloud, with recent candles breaking above the Cloud, suggesting a potential bullish trend reversal.
On the other hand, the MFI is at 63.67, which indicates buying pressure. If the price remains above the Cloud, it could signal a more substantial bullish bias. As of press time, the Tron price stood at $0.1156, representing a 2% pump from its previous 24-hour price.
Solana Price Review
Solana (SOL) has also failed to post gains in today’s session. An in-depth analysis shows that the chart displays a clear downtrend, as indicated by the Auto Pitchfork. The price has consistently found resistance along the upper line of the descending channel, showing a bearish solid sentiment. Recently, the price has moved within the channel’s lower half, suggesting that selling pressure remains high.
The Volume Oscillator shows a significant negative reading of -34.92%, indicating a substantial drop in volume as the price has declined. This could mean less conviction in the market movements, possibly predicting weaker support levels as the price descends. As of press time, the Solana price stood at $159.6, representing a 1.72% dump from its previous 24-hour price.
