Market Bears Take Control as Global Market Cap Decreases
In today’s market session, bears have dominated, leading to a decrease in the global market cap. The total cap currently stands at $2.51 trillion, representing a 2.4% drop over the past 24 hours. Additionally, the trading volume has also seen a decline, standing at $78.18 as of press time, indicating a 4.83% decrease in the previous 24 hours.
Bitcoin Price Analysis
Bitcoin (BTC) is experiencing consolidations today, as evident from its price movements. A detailed analysis reveals that the price is moving sideways with occasional spikes within the Bollinger Bands, suggesting low volatility. The Bollinger Bands are slightly converging, indicating a potential decrease in volatility. Moreover, the price remains above the 20-period SMA, which may serve as a support level.
On the other hand, the Woodies CCI oscillates around the zero line, indicating a lack of strong momentum in either direction. As of press time, the Bitcoin price is $67,130, marking a 3% decrease in valuation over the past 24 hours.
Ethereum Price Analysis
Similar to Bitcoin, Ethereum (ETH) has also failed to make significant gains in today’s session. The price analysis shows consolidation after a notable uptrend. The Alligator’s lines are intertwined, indicating a lack of clear trend and a possible phase of accumulation or distribution.
Moreover, the Awesome Oscillator analysis reveals that the bars are near zero and decreasing in size, suggesting weakening momentum and potentially signaling the end of the recent bullish move. As of press time, the Ethereum price stands at $3,778, reflecting a 0.38% increase in valuation over the past 24 hours.
Dogecoin Price Analysis
Dogecoin (DOGE) has seen gains in today’s session; however, a closer analysis reveals that it is trading just below the Super Trend, indicating a bearish trend.
On the other hand, the MFI suggests moderate conditions, indicating no significant overbuying or overselling. As of press time, the Dogecoin price is $0.1583, showing a 2.16% increase in valuation over the past 24 hours.
Cardano Price Analysis
Unfortunately, Cardano (ADA) has not been able to gain in today’s session, as observed from its price movements. In-depth analysis reveals that the Cardano price action remains bearish as it stays below the Ichimoku Cloud. Previous attempts to break above have been unsuccessful, indicating strong resistance.
However, the Volume Oscillator indicates positivity, suggesting higher trading volume on upward moves compared to downward moves. This may support a potential bullish undertone despite the current price being below the Cloud. As of press time, the Cardano price stands at $0.4475, reflecting a 1.23% increase in valuation over the past 24 hours.
Pepe Price Analysis
Pepe (PEPE) is a gainer in today’s session, as indicated by its price movements. A detailed analysis shows that the Pepe price is moving within an upward Auto Pitchfork channel, demonstrating a stable ascending trend. However, it is currently near the mid-line of the pitchfork, which could act as either support or resistance.
Furthermore, the Woodies CCI is hovering above the zero line, suggesting positive momentum. As of press time, the Pepe price is $0.00001509, showing a 3.3% increase in valuation over the past 24 hours.
