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Thursday, July 25, 2024
EthereumDaily Market Recap BTC ETH ZK WLD TON

Daily Market Recap BTC ETH ZK WLD TON

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Today’s trading session has been dominated by bearish sentiment, evident in the global market cap’s decline. The total market cap currently stands at $2.31 trillion, marking a 0.62% decrease over the past 24 hours. Concurrently, trading volume has risen to $53.4 billion during the same period, reflecting a 0.66% increase.

**Bitcoin Price Analysis**

Bitcoin (BTC) has experienced losses in today’s session, as reflected in its recent price movements. A detailed examination shows that Bitcoin’s price is currently trading below its moving averages — the Alligator’s Jaw (blue line), Teeth (red line), and Lips (green line) — indicating a bearish trend. However, the convergence of these lines suggests a potential pause in bearish momentum or a phase of consolidation. Meanwhile, the Money Flow Index (MFI) stands neutral at 52.10, indicating a balance between buying and selling pressures. At present, Bitcoin is trading at $61,848, reflecting a 2.8% increase over the last 24 hours.
![4-hour BTC/USD Chart](TradingView)

**Ethereum Price Analysis**

Ethereum (ETH) has also faced losses today, evidenced by its price movements. An in-depth analysis reveals Ethereum’s price hovering around the middle band, suggesting equilibrium between buyers and sellers. The upper and lower bands stand at $3,504.64 and $3,355.27 respectively, serving as resistance and support levels. Moreover, the Volume Oscillator shows a -12.01% change, indicating a decline in trading volume that often precedes a breakout. Ethereum is currently trading at $3,409, reflecting a 1.51% decrease over the last 24 hours.
![4-hour ETH/USD Chart](TradingView)

**zkSync Price Analysis**

zkSync (ZK) has encountered corrections in today’s session. Detailed analysis highlights the Supertrend indicator signaling a sell, with the Supertrend line above the current price of zkSync at $0.1764 USDT. Additional indicators such as the Woodies Commodity Channel Index (CCI) at -71.6279 suggest bearish momentum below the -100 threshold, indicating sustained downward pressure. zkSync is currently trading at $0.1758, marking a 6.9% decrease over the last 24 hours.
![4-hour ZK/USDT Chart](TradingView)

**Worldcoin Price Analysis**

Worldcoin (WLD) has also registered declines today. Analysis shows Worldcoin’s price below the Kumo Cloud, with the conversion line (blue) below the baseline (red), reinforcing a bearish outlook. Conversely, the Average Directional Index (ADX) at 48.33 suggests a strong, albeit bearish, trend. Worldcoin is trading at $2.25, reflecting a 0.7% decrease over the last 24 hours.
![4-hour WLD/USDT Chart](TradingView)

**Toncoin Price Analysis**

Toncoin (TON) stands out as one of the few gainers today. Analysis indicates an upward channel using the Auto Pitchfork tool, with Toncoin’s price currently testing the upper boundary around $8.041 USDT. Additionally, the Awesome Oscillator (AO) shows green bars above the zero line, indicating bullish momentum. A breakout above the pitchfork channel’s upper boundary could signal continued bullish movement. Toncoin is currently trading at $8.04, marking a 4.79% increase over the last 24 hours.
![4-hour TON/USDT Chart](TradingView)

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