The market session today was dominated by bears, evident from the decrease in the global market cap which stood at $2.56 trillion at press time, reflecting a 3% decline in the past 24 hours. Furthermore, the trading volume was at $102.9 billion, marking a 37% drop over the same period.
Bitcoin (BTC) also experienced corrections during today’s session, with the price movements indicating a downtrend. The price of Bitcoin fell below the 20 Simple Moving Average (SMA) on the Bollinger Bands (BB), which now acts as a dynamic resistance. The narrowing BB suggests reduced volatility. The Awesome Oscillator (AO) remains negative, indicating the continued dominance of bearish momentum. At the moment, Bitcoin is priced at $69,320, reflecting a 0.09% decrease from its previous 24-hour price.
Ethereum (ETH) also faced price drops in today’s session, with its chart showing a steep downtrend followed by consolidation. The Alligator indicator suggests a bearish trend as the price remains below the jaws of the Alligator. The ADX stands at 48.36, indicating a strong downward trend. Ethereum is currently priced at $3,688, marking a 0.12% drop from its previous 24-hour price.
ORDI (ORDI) displayed gains in today’s session, with a range-bound movement indicated by the Supertrend staying green. The price mostly hovers around the Supertrend line, while the RSI remains neutral at 50.16. This suggests a potential accumulation phase or indecisiveness among traders. ORDI is currently priced at $62.02, marking a 0.12% increase from its previous 24-hour price.
Tron (TRX) also experienced gains in today’s session, with the price action weaving around the Ichimoku Cloud. Recent candles breaking above the Cloud suggest a potential bullish trend reversal. The MFI stands at 63.67, indicating buying pressure. Tron is priced at $0.1156 at the moment, showing a 2% increase from its previous 24-hour price.
Solana (SOL) failed to post gains in today’s session, with the chart displaying a clear downtrend as indicated by the Auto Pitchfork. The price consistently faces resistance along the upper line of the descending channel, reflecting a bearish sentiment. The Volume Oscillator shows a significant negative reading of -34.92%, suggesting a decrease in volume as the price declines. Solana is currently priced at $159.6, marking a 1.72% decrease from its previous 24-hour price.