The current trading session has been dominated by bearish activity, resulting in a decrease in the global market cap to $2.62T. This represents a 0.5% decline compared to the previous day. However, the trading volume has seen a significant increase to $80.3B, marking a 37% rise over the same period.
Bitcoin Price Analysis
Bitcoin (BTC) is experiencing a correction today, evident from its price movements. A detailed examination of the Bitcoin chart reveals a downward trend, with the price pulling back significantly from the upper Bollinger Band (BB) resistance. The price is currently testing the 20 SMA of the Bollinger Bands for potential support.
Additionally, the Woodies CCI indicator is below -100, indicating a strong bearish sentiment in the market. At the moment, the price of Bitcoin is $69,497, showing a 0.54% increase from its price 24 hours ago.
Ethereum Price Analysis
Ethereum (ETH) is not showing gains in today’s session, based on its price movements. A thorough analysis of the 4-hour chart indicates a relatively flat trend, with the price hovering around the three lines of the Alligator indicator, suggesting a lack of clear direction.
Moreover, the MFI stands at 15.59, hinting that the asset may be oversold, and a price reversal could occur if demand picks up. The current price of Ethereum is $3,703, reflecting a 2.9% increase from its previous 24-hour price.
Filecoin Price Analysis
Filecoin (FIL) is one of the gainers in today’s session, showing positive price movements. A detailed analysis reveals a recent bullish momentum in Filecoin, with a breakout from the Supertrend indicator indicating a potential upward trend reversal.
Furthermore, the MFI is at 58.42, suggesting increased buying pressure and a possible continuation of the upward movement. Currently, the price of Filecoin is $6.43, marking a 7.7% jump from its price 24 hours ago.
Injective Price Analysis
Injective (INJ) is also experiencing gains in today’s session, with positive price movements. An in-depth analysis shows a volatile sideways market for INJ, with the price currently below the Ichimoku indicator cloud, indicating bearish sentiment but with occasional spikes into the cloud.
Moreover, the AO (Awesome Oscillator) displays increased green bars, indicating a build-up of bullish momentum. The current price of Injective is $30.24, showing a 2.9% increase from its previous 24-hour price.
SEI Price Analysis
SEI (SEI) is another gainer in today’s session, with an upward trend on the chart. A recent sharp upward movement has broken out from a downtrend line within the Auto Pitchfork tool.
Furthermore, the RSI is at 57.59, approaching the overbought territory, reflecting intense buying pressure. At present, the price of SEI is $0.5451, showing a 2.62% increase from its price 24 hours ago.
