The current market session has been dominated by bullish activity, resulting in a rise in the global market cap to $2.42T, marking a 0.2% increase in the past 24 hours. Additionally, trading volume has surged by 11% to reach $92.1B during the same period.
Bitcoin Price Analysis
Bitcoin (BTC) is experiencing a correction today following previous consolidations. A detailed examination of the chart reveals significant volatility with a recent downward trend, evident from the drop below both moving averages and negative momentum in the Awesome Oscillator. The Alligator moving averages are converging and sloping downwards, indicating a strengthening bearish trend. Bitcoin is currently struggling around the $66,763 level, with immediate resistance at $68,103 and support at $67,486. The current price stands at $66,681, showing a 4.13% decrease from the previous 24-hour price.
Ethereum Price Analysis
Ethereum (ETH) is showing positive movement today, although a closer look reveals a bearish pattern with a sharp decline in recent candles. The wide Bollinger Bands suggest high volatility, with the price below the 20-period SMA acting as dynamic resistance, signaling continued bearish pressure. The woodies CCI is in the negative territory, further supporting bearish signals. Ethereum is currently priced at $3,459, representing a 4.2% drop in the last 24 hours.
MultiverseX Price Analysis
MultiverseX (EGLD) did not perform well in today’s session, with the Supertrend indicator signaling a sell and the price consistently below the indicator, reinforcing a bearish outlook. The Money Flow Index (MFI) is low at 15.29, indicating overselling and potential reversal or pullback in the near future. The current price of MultiverseX is $33.13, showing a 6.6% decrease from the previous 24-hour price.
Ethereum Classic Price Analysis
Ethereum Classic (ETC) also did not see gains today, with the Ichimoku Cloud indicating bearish dominance as the price trades below the cloud. The expanding cloud suggests increased bearish volatility, while recent candles struggle near the lower boundary of the cloud with a relatively low MFI, hinting at selling exhaustion. Ethereum Classic is currently priced at $25.42, showing a 4.3% drop from the previous 24-hour price.
Solana Price Analysis
Solana (SOL) is one of the gainers in today’s session, although a detailed analysis shows a bearish trend within an auto pitchfork, remaining in the lower half. The MFI is slightly above the middle range, indicating moderate selling pressure. The current price of Solana is $147.99, reflecting a 6.4% decrease from the previous 24-hour price.
