Today’s market session has seen a decline in the global market cap, with bears taking control. The total cap currently stands at $2.56 trillion, representing a 0.73% decrease over the past 24 hours. Additionally, the trending volume has dropped by 4% during the same period, reaching $90.24.
Bitcoin (BTC) has not been able to generate any gains in today’s session, as indicated by its price movements. A closer analysis reveals the formation of a descending triangle pattern, which typically suggests a bearish continuation. The price of Bitcoin has been consolidating within the triangle, signaling an impending breakout. However, the direction of the breakout, usually downwards according to this pattern, still needs confirmation.
On the other hand, the Relative Strength Index (RSI) is currently around 25, indicating potentially oversold conditions. This could either lead to a price recovery or further bearish continuation if market sentiment remains negative. At present, the Bitcoin price stands at $67,938, reflecting a 0.71% increase in value over the past 24 hours.
Ethereum (ETH) has also failed to generate gains in today’s session, as observed from its price movements. A detailed analysis reveals the utilization of Bollinger Bands, with a recent squeeze indicating reduced volatility and the potential for a breakout. Ethereum is currently experiencing consolidation after a significant spike, with its current prices testing the lower Bollinger Band.
The Average Directional Index (ADX) is currently low at 12.57, suggesting a weak trend. The market may continue to consolidate until a clear trend is established. As of now, the Ethereum price stands at $3,747, representing a 2.8% increase in value over the past 24 hours.
Notcoin (NOT) is one of the gainers in today’s session, with its price witnessing an increase. Analyzing the chart in detail, it is evident that Notcoin is experiencing a strong bullish trend, characterized by a sharp price rise. The cryptocurrency is in a sustained uptrend, with its price positioned above all moving averages.
Furthermore, the ADX is exceptionally high at 53.18, indicating a very strong trend. The Alligator indicator also supports the strong bullish momentum. Currently, the Notcoin price stands at $0.01186, demonstrating a 24.79% increase in value over the past 24 hours.
Arweave (AR) is another cryptocurrency that has seen gains in today’s session. A thorough analysis reveals that Arweave’s price movement is confined within a rising channel, with recent tests of the lower boundary of the channel.
On the other hand, the Commodity Channel Index (CCI) is hovering around -7, near the zero line, suggesting a potential shift in momentum. At present, the Arweave price stands at $38.83, reflecting a 1.08% increase in value over the past 24 hours.
Monero (XRM) is also experiencing gains in today’s session, as evidenced by its price movements. A detailed analysis indicates that the trend is currently testing the cloud from below, signifying uncertainty and a possible trend reversal if it breaks into the cloud.
Meanwhile, the RSI is close to 56, indicating moderate momentum without any extreme conditions. The Monero price stands at $143.75 at the moment, representing a 1.19% increase in value over the past 24 hours.
