The market session today is being dominated by bears, as evident from the decrease in the global market cap. At press time, the total cap was at $2.25T, representing a 4.11% drop over the last 24 hours. However, the trading volume stood at $73.7B during the same period, showing a 138% increase over the last 24 hours.
Bitcoin’s price movements indicate that it is among the top losers of the day. A detailed analysis of Bitcoin price charts reveals that the price is moving close to the lower band, suggesting that it may be oversold. A slight increase towards the center band indicates a potential reversal. The RSI is at 35.41, close to the oversold threshold of 30, indicating a possible rebound if buying pressure increases. Bitcoin traded at $61,122 at press time, representing a 1.8% decrease over the last 24 hours.
Ethereum is also experiencing losses in today’s session, as seen from its price movements. An in-depth analysis shows that the Alligator’s lines are intertwined and spreading apart downwards, indicating a bearish trend. If the price starts to cross above these lines, it may suggest the beginning of an upward trend. The AO shows a series of red bars, indicating bearish momentum. Ethereum traded at $61,122 at press time, representing a 0.09% decrease over the last 24 hours.
On the other hand, Dogwifhat (WIF) is among the gainers in today’s session, with its price showing a potential trend reversal after crossing above the super trend line. Increased volume in the green zone could confirm a bullish reversal. Dogwifhat traded at $1.89 at press time, representing a 23.67% increase over the last 24 hours.
Fetch.ai (FET) is also showing gains in today’s session, with its price above the Ichimoku cloud, indicating a potential bullish trend. The RSI is at 66.70, showing strong buying momentum but approaching the overbought zone. Fetch.ai traded at $1.89 at press time, representing a 21% increase over the last 24 hours.
Lastly, Bonk (BONK) is another gainer in today’s session, as its price has broken out of the falling wedge pattern, which is typically a bullish signal. The MFI is at 60.62, indicating healthy buying pressure but not yet overbought. Bonk traded at $0.00002255 at press time, representing a 17.7% increase over the last 24 hours.