Today’s market session has witnessed a resurgence of bearish sentiment, as evidenced by the decline in the global market cap. At the time of writing, the total cap stands at $2.53 billion, reflecting a 2.43% decrease over the past 24 hours. However, trading volume during the same period has increased by 9.18% to reach $114 billion.
Bitcoin (BTC) Price Review
Bitcoin is currently undergoing a correction following its recent price surge. This can be observed by analyzing the price movements, which have remained within the confines of the Bollinger Bands. After a strong bullish run, the price is now retreating and has dropped below the 20-period SMA, indicating a short-term bearish momentum.
On the other hand, the Average Directional Index (ADX) is at approximately 30.78, suggesting a relatively strong trend. The negative slope further confirms the presence of a bearish trend. As of now, the price of Bitcoin stands at $66,881, reflecting a 3.6% decrease in value over the past 24 hours.
Ethereum (ETH) Price Review
Similar to Bitcoin, Ethereum is also experiencing a correction in today’s session. Upon closer analysis, it is evident that Ethereum witnessed a significant bullish spike, surpassing previous resistance levels. After a slight retracement, the price is currently hovering around the middle of the Bollinger Bands.
Meanwhile, the Money Flow Index (MFI) stands at 39.96, indicating that the asset may be slightly oversold, presenting potential buying opportunities. The current price of Ethereum is $3,673, representing a 3% decrease in value over the past 24 hours.
Ondo (ONDO) Price Review
Despite the prevailing bearish sentiment, Ondo has managed to emerge as one of the gainers in today’s session. A detailed analysis reveals that the price of Ondo has been on a bullish trajectory, consistently staying above the moving averages. It experienced a notable rally followed by a moderate correction.
Furthermore, the Commodity Channel Index (CCI) is approximately 48.78, indicating that the price is approaching overbought territory but still has room for upward movement. At present, the price of Ondo stands at $1.05, reflecting an 8.3% increase in value over the past 24 hours.
Lido DAO (LDO) Price Review
Lido DAO is another asset that has experienced gains in today’s session. However, upon closer examination, it becomes apparent that LDO is trading within a narrow range, characterized by volatile price action within the Ichimoku cloud. This suggests a lack of clear trends and a possible consolidation phase.
Nonetheless, the Money Flow Index (MFI) is at 55.14, indicating a balance between buying and selling pressures. The current price of Lido DAO is $2.25, representing a 7.68% increase in value over the past 24 hours.
Chainlink (LINK) Price Review
Chainlink has also seen gains in today’s session, as indicated by its price movements. A comprehensive analysis reveals that Chainlink has entered a bullish phase, following an upward trajectory along the auto pitchfork channel. The price has slightly retraced after reaching the upper boundary of the pitchfork.
Moreover, the Volume Oscillator suggests a 12.41% increase in trading volume during the price rise, further supporting the current bullish momentum. At present, the price of Chainlink is $16.85, reflecting a 1.6% increase in value over the past 24 hours.
