Bears have regained dominance in today’s session as seen from the drop in the global market cap. The total markt cap stood at $2.35T as of press time, representing a 3% drop over the last 24 hours, while the trading volume saw a 106% increase over the same period to stand at $97.2B.
Bitcoin Price Review
Bitcoin (BTC) is facing corrections in today’s session ahead of the bear sentiment as seen from its price movements. Looking at an in-depth analysis, we see that the bands are widening, indicating increased volatility. The price has recently broken below the middle band, suggesting a possible continuation of the downward movement.
On the other hand, the Volume Oscillator is at 19.89%, which indicates moderate trading volume. The recent spikes in volume correlate with the price drop, suggesting selling pressure. As of press time, Bitcoin was trading at $65,566, representing a 0.77% decrease over the the last 24 hours.
Ethereum Price Review
Ethereum (ETH) is also not a gainer in today’s session as seen from its price movements today. Looking at an in-depth analysis, we see that the Ethereum price is around $3,440, trading below the Alligator indicator’s moving averages, which are aligned for a bearish trend (Lips < Teeth < Jaw). The separation between the moving averages indicates a strong downtrend. The lines are pointing downwards, confirming the bearish outlook.
On the other hand, we see that the Awesome Oscillator is showing red bars, indicating bearish momentum. The recent increase in the red bars suggests strengthening bearish pressure. As of press time, Ethereum was trading at $3,441, representing a 2.8% decrease over the the last 24 hours.
Ripple Price Review
Ripple (XRP) is the only gainer in today’s session despite the bear action, evidenced by its price movements. Looking at an in-depth analysis, we see that the Ripple price is below the Supertrend resistance level at $0.4914. The trend remains bearish as long as the price stays below this level.
On the other hand, the Money Flow Index is at 60.67, which is in the neutral zone but moving towards the overbought region. This suggests caution as the price may see a reversal if it continues to rise. As of press time, Ripple was trading at $0.4938, representing a 1.8% increase over the the last 24 hours.
Worldcoin Price Review
Worldcoin (WLD) is among today’s top losers has seen from its price movements. Looking at an in-depth analysis, we see that the Worldcoin price is around $2.767, trading below the Ichimoku Cloud, indicating a bearish trend. The Worldcoin price is well below the Kumo cloud, with the future cloud also bearish (Senkou Span A < Senkou Span B). The Tenkan-sen (red line) and Kijun-sen (blue line) are also indicating bearish momentum.
On the other hand, the Woodies CCI: The CCI is at -165.673, indicating strong bearish momentum. The CCI is below -100, confirming the downtrend. As of press time, Worldcoin was trading at $2.77, representing a 15.6% increase over the the last 24 hours.
Core DAO Price Review
Core DAO (CORE) is also among the top losers today as also seen from its price movements. Looking at an in-depth analsys, we see that the Core Dao price has broken below the lower boundary of the pitchfork channel, indicating a strong bearish trend. The price needs to move back into the pitchfork channel to invalidate the bearish outlook.
On the other hand, the Volume Oscillator is at 23.48%, indicating increasing volume. This rise in volume with a price drop suggests strong selling pressure. As of press time, Core DAO price was trading at $1.34, representing a 16.3% increase over the the last 24 hours.
