The bears are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.22T as of press time, representing a 4.2% decrease over the last 24 hours, while the trading volume dropped by 15.56% over the same period to stand at $58.65B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, price is near the lower Bollinger Band, which can often indicate oversold conditions or a potential rebound zone. However, it also suggests bearish momentum if price stays around this level.
On the other hand, we see that the Awesome Oscillator (AO) shows red bars and declining momentum, indicating that bearish sentiment has been building up over the recent candles. Bitcoin traded at $67,615 as of press time, representing a 2.31% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also not posting gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that ETH is trading below all key moving averages, indicating a bearish trend. The price recently retested the 100 SMA as resistance and failed to break above, resuming its downward movement.
On the other hand, we see that the ADX (Average Directional Index) reading of 24.90 suggests a weak trend strength, although it’s approaching the 25 threshold which would signify a strengthening trend. Ethereum traded at $2,415 as of press time, representing a 2.78% decrease over the last 24 hours.
Solana Price Review
Solana, $SOL, has also not posted gains in today’s session as seen from its price movement. Looking at an in-depth analysis, we see that the Alligator lines are in a bearish formation, with the Jaw (blue line) at the top, Teeth (red line) in the middle, and Lips (green line) at the bottom, which indicates a confirmed downtrend.
On the other hand, we see that the RSI (Relative Strength Index) is at 33.01, nearing the oversold level (30), which could indicate a potential reversal or at least a pause in the selling pressure. Solana traded at $159.86 as of press time, representing a 2.19% decrease over the last 24 hours.
Ripple Price Review
Ripple, $XRP, is also falling behind today as also seen from its price movements. Looking at an in-depth analysis, we see that XRP is trading below the cloud, a bearish signal. The future cloud is also red, which indicates continued downward pressure. The price has also broken below the Kijun-sen (blue line) and Tenkan-sen (red line), which adds further bearish sentiment.
On the other hand, we see that the MFI (Money Flow Index): The MFI is at 23.27, indicating oversold conditions. This could mean a potential rebound, although it’s not guaranteed if bearish sentiment remains strong. Ripple traded at $0.4966 as of press time, representing a 2.65% decrease over the last 24 hours.
Dogecoin Price Review
Dogecoin, $DOGE, is also falling behind today as also seen from its price movements. Looking at an in-depth analysis, we see that the Supertrend has recently turned red and is positioned above the current price level at 0.16408, which signals a bearish trend. This level can act as resistance if Dogecoin attempts to move back up.
On the other hand, we see that the Awesome Oscillator (AO) is showing consistent red bars, indicating bearish momentum. The histogram shows declining values, suggesting that downward pressure has been increasing. Dogecoin traded at $0.1446 as of press time, representing a 7.6% decrease over the last 24 hours.
