The bulls are still in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.15T as of press time, representing a 1.1% increase over the last 24 hours, while the trading volume dropped by 40% over the same period to stand at $138.8B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, is however correcting in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is currently near the lower Bollinger Band, suggesting potential oversold conditions. However, the bands are expanding, indicating increased volatility. A close below the lower band could suggest further downward movement.
On the other hand, we see that the Awesome Oscillator (AO) shows a series of red bars below the zero line, indicating bearish momentum. Bitcoin traded at $58,330 as of press time, representing a 4.62% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also correcting in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Alligator’s Jaw, Teeth, and Lips are converging, suggesting a period of low volatility or sideways movement. The Ethereum price is trading near the Lips (green line), indicating indecision and lack of strong directional momentum.
On the other hand, we see that the ADX (Average Directional Index) value is low (15.75), indicating a weak trend. Ethereum traded at $2,548 as of press time, representing a 4.31% decrease over the last 24 hours.
Ripple Price Review
Ripple, $XRP, has also failed to post gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Ripple price is currently trading below the Supertrend indicator, which is red, indicating a bearish trend. The Supertrend acts as resistance and could continue to push prices lower if the trend remains intact.
On the other hand, we see that Woodies CCI is deep in the negative territory (-82.11), suggesting the asset is in a strong bearish phase. This aligns with the Supertrend indicator, reinforcing the bearish outlook. Ripple traded at $0.5639 as of press time, representing a 4.8% decrease over the last 24 hours.
Sui Price Review
Sui, $SUI, has also failed to gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, the Sui price is trading within the Ichimoku cloud, indicating uncertainty and potential consolidation. The cloud ahead is thin, suggesting a potential breakout, but the direction is unclear.
On the other hand, we see that the Woodies CCI has moved into positive territory (4.39), indicating a potential shift in momentum. If this upward momentum continues, it could signal a bullish breakout from the cloud. SUI traded at $0.8974 as of press time, representing a 0.34% decrease over the last 24 hours.
Cardano Price Review
Cardano, $ADA, has also failed to post gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Cardano price is currently trading below the midline of the Pitchfork channel, indicating a bearish bias. The price action suggests potential for further downside if it fails to break back above the midline.
On the other hand, MFI (Money Flow Index) is at 31.37, near the oversold threshold. This suggests that while there is bearish pressure, the asset could be approaching a reversal or a relief rally in the near term. Cardano traded at $0.3312 as of press time, representing a 5.8% decrease over the last 24 hours.
