In today’s trading session, bears have taken control as evidenced by the decline in the global market cap. The total market cap currently stands at $2.35 trillion, showing a 3% decrease over the past 24 hours. Additionally, trading volume has surged by 106% to reach $97.2 billion.
Bitcoin Price Analysis
Bitcoin (BTC) is experiencing a correction as the bearish sentiment looms large. A detailed examination reveals that the volatility is increasing as the bands widen. The price has broken below the middle band, indicating a potential continuation of the downward trend.
Moreover, the Volume Oscillator stands at 19.89%, pointing to moderate trading volume. The recent spike in volume corresponds with the price drop, suggesting a selling pressure. Bitcoin is currently trading at $65,566, reflecting a 0.77% decline over the last 24 hours.
Ethereum Price Analysis
Ethereum (ETH) is also facing a downturn in today’s session. The price is hovering around $3,440 and is trading below the moving averages of the Alligator indicator, signaling a bearish trend. The separation between the moving averages indicates a strong downtrend, with the lines pointing downwards to confirm the bearish outlook.
Furthermore, the Awesome Oscillator is displaying red bars, indicating bearish momentum. The recent increase in red bars suggests a strengthening bearish pressure. As of now, Ethereum is trading at $3,441, showing a 2.8% decrease over the last 24 hours.
Ripple Price Analysis
Despite the overall bearish market sentiment, Ripple (XRP) is showing positive price movements. The price of Ripple is below the Supertrend resistance level at $0.4914, maintaining a bearish trend as long as it stays below this level.
On the other hand, the Money Flow Index is at 60.67, moving towards the overbought region from the neutral zone. This indicates a possibility of a reversal if the price continues to rise. Currently, Ripple is trading at $0.4938, marking a 1.8% increase over the last 24 hours.
Worldcoin Price Analysis
Worldcoin (WLD) is one of the biggest losers in today’s trading session. The price of Worldcoin is around $2.767 and is trading below the Ichimoku Cloud, signaling a bearish trend. The price is well below the Kumo cloud, with the future cloud also indicating a bearish outlook.
Additionally, the Woodies CCI is at -165.673, showing strong bearish momentum. The CCI being below -100 confirms the downtrend. At present, Worldcoin is trading at $2.77, representing a 15.6% decrease over the last 24 hours.
Core DAO Price Analysis
Core DAO (CORE) is also among the top losers today, reflecting bearish price movements. The price has broken below the lower boundary of the pitchfork channel, indicating a strong bearish trend. To reverse this outlook, the price must move back into the pitchfork channel.
Furthermore, the Volume Oscillator is at 23.48%, signaling an increase in volume. This rise in volume coupled with the price drop indicates strong selling pressure. Core DAO is currently trading at $1.34, showing a 16.3% decrease over the last 24 hours.
