Market Bears Take Control as Global Market Cap Drops in Last 24 Hours
In the latest market session, bears have taken the lead, as evidenced by the decline in global market capitalization over the past 24 hours. The total cap currently stands at $2.53 trillion, representing a decrease of 0.17% compared to the previous 24 hours.
Bitcoin Price Analysis
Bitcoin (BTC) continues to experience consolidation, as observed from its price movements during today’s session. A detailed analysis reveals that the Bitcoin chart displays fluctuating movements within a Keltner Channel. Recently, the Bitcoin price consolidated around $67,000.
Meanwhile, the Relative Strength Index (RSI) hovers around 46, indicating a neutral market sentiment without overbought or oversold conditions. At present, the Bitcoin price is $67,632, representing a 0.65% drop from its price in the previous 24 hours.
Ethereum Price Analysis
Ethereum (ETH) is among the gainers in today’s session, as shown by its price movements. Upon closer analysis, Ethereum displays an upward trend, as it recently experienced a significant rally, pushing the price above all three moving averages in the Alligator indicator.
This suggests a strong bullish phase. However, the Awesome Oscillator (AO) has transitioned from green to red bars, indicating a potential loss of momentum or consolidation after the initial surge. Currently, the Ethereum price stands at $3,791, representing a 1.5% increase from its price in the previous 24 hours.
JasmyCoin Price Analysis
JasmyCoin (JASMY) also stands out as one of the top gainers in today’s session, based on its price movements. JasmyCoin demonstrates a solid bullish trend, with the price significantly surpassing the Supertrend indicator line, which has turned green, confirming the presence of bullish conditions.
On the other hand, the Commodity Channel Index (CCI) has recently spiked above +100, indicating high buying pressure and potential overbought conditions that may lead to a pullback or consolidation. Currently, the JasmyCoin price is $0.03431, representing a 14.3% increase from its price in the previous 24 hours.
Lido DAO Price Analysis
Lido DAO (LDO) is another cryptocurrency that has gained in today’s session, as evidenced by its price movements. A comprehensive analysis reveals a bullish trend in Lido DAO’s chart, with the price trading above the expanding Ichimoku cloud, indicating a growing bullish momentum.
However, the Money Flow Index (MFI) is currently around 74, approaching overbought levels, which could signal a possible slowdown or reversal in the near future if traders begin to take profits. At present, the Lido DAO price stands at $2.55, representing a 9.7% increase from its price in the previous 24 hours.
Ondo Price Analysis
Ondo (ONDO) is another cryptocurrency that has experienced gains in today’s session, as observed from its price movements. Ondo Finance showcases a consolidating trend, with the price fluctuating around the relatively thin Ichimoku cloud, indicating uncertainty and minimal trend strength. However, the recent candles are above the cloud, suggesting a potential shift towards bullish conditions.
Moreover, the Money Flow Index (MFI) is at a moderate level of 62, indicating a decent balance between buying and selling pressure without immediate concerns of being overbought. Currently, the Ondo price is $1.27, representing a 6.37% increase from its price in the previous 24 hours.
