The latest market session was dominated by bears, resulting in a decrease in the global market cap. At the current moment, the total cap is at $2.54T, showing a 0.4% drop over the past 24 hours. Simultaneously, the trading volume is recorded at $52.19B, indicating a 0.3% decrease over the same period.
Bitcoin (BTC) Price Analysis
Bitcoin is experiencing significant corrections today, evident from its price fluctuations. A detailed examination reveals that the Awesome Oscillator (AO) displays a deep negative value, confirming a bearish trend. This sudden decline is highlighted by the sizeable red histogram bars.
The current price is hovering near the lower Bollinger Band, suggesting possible support around $67,600. Resistance could be encountered near the 20-period SMA at approximately $69,400. At the moment, the Bitcoin price is at $67,746, reflecting a 2.3% decline from the previous 24-hour price.
Ethereum (ETH) Price Analysis
Ethereum is also undergoing a correction in today’s session, evident from its price movements. A thorough analysis indicates that the CCI is in the oversold territory, hinting at a potential short-term rebound or consolidation despite the prevailing bearish trend.
Immediate support is estimated around $3,542, while resistance is likely near the Alligator’s green line at $3,650. Currently, the Ethereum price stands at $3,540, showing a 3.5% decrease from the previous 24-hour price.
Akash (AKT) Price Analysis
Akash is one of the gainers in today’s session, displaying positive price movements. A detailed analysis reveals a notable uptick in Akash Network’s recent candle. However, the overall trend remains bearish, with the price trading below the SuperTrend indicator.
The RSI has surged to 63, indicating a growing bullish momentum in the short term and potentially signaling a trend reversal or pullback. The current Akash price is $4.43, marking a 5.9% increase from the previous 24-hour price.
Gnosis (GNO) Price Analysis
Gnosis has also seen gains in today’s session, indicated by its price movements. A thorough analysis suggests that the MFI is at 78, hinting at potential overbought conditions in the market, which could result in a pullback.
Support is anticipated at the top boundary of the Ichimoku cloud around $344, with resistance expected at the recent high of about $350. Currently, Gnosis is priced at $349.46, showing an 8.8% increase from the previous 24-hour price.
Injective (INJ) Price Analysis
Injective has also experienced gains in today’s session, reflecting positive price movements. A detailed analysis reveals a bullish rebound in the Injective price charts, with prices rising within an auto pitchfork, indicating controlled upward momentum.
However, the volume oscillator is negative, suggesting a lower conviction for the recent price increase. At present, Injective is priced at $29.57, marking a 10.2% increase from the previous 24-hour price.