Market Sentiment Shifts as Global Market Cap Declines
The global market cap has taken a hit, causing bears to dominate the market. As of now, the total cap stands at $2.53 trillion, reflecting a 1% drop in the last 24 hours. Additionally, the trading volume has also experienced a decline, reaching $62.65 billion during the same period, representing a 17.2% decrease.
Bitcoin Price Analysis
Bitcoin (BTC) has shown signs of recovery in today’s session. A detailed analysis reveals that the Bitcoin price is fluctuating between the middle and upper Bollinger bands, indicating a moderately bullish momentum.
Moreover, the Awesome Oscillator (AO) reflects negative values that are decreasing in magnitude, suggesting a potential shift from a bearish sentiment to a less bearish or neutral one. At present, the Bitcoin price stands at $67,687, marking a 0.02% increase from its previous 24-hour price.
Ethereum Price Analysis
Similar to Bitcoin, Ethereum (ETH) has also displayed signs of slight recovery. An in-depth analysis indicates that the Ethereum price is situated between the Alligator’s jaw and teeth, indicating a phase of balance or a lack of a strong trend.
Furthermore, the Relative Strength Index (RSI) hovers around 50, suggesting neither overbought nor oversold conditions and supporting the idea of a balanced and undecided market. As of now, the Ethereum price stands at $3,788, showing a 0.01% increase from its previous 24-hour price.
Notcoin Price Analysis
Notcoin (NOT) has emerged as one of the top gainers in today’s session. A thorough analysis reveals that the Notcoin price has surpassed the Supertrend indicator, which has turned green, indicating bullish conditions.
However, caution should be exercised as the RSI stands at a high value of around 90, implying overbought conditions that may precede a price correction or consolidation. Currently, the Notcoin price is at $0.01945, reflecting a 58% jump from its previous 24-hour price.
Wormhole Price Analysis
Wormhole (W) has also experienced gains in today’s session. A comprehensive analysis suggests that the Wormhole price has broken above the cloud, signaling a strong bullish trend. The Average Directional Index (ADX) is on the rise, indicating a strengthening trend.
Moreover, the breakout above the Ichimoku cloud, coupled with the increasing ADX, suggests that the solid bullish trend may continue. At present, the Wormhole price stands at $0.6482, representing an 11.2% increase from its previous 24-hour price.
Ronin Price Analysis
Ronin (RON) has joined the list of gainers in today’s session. An in-depth analysis reveals that the Ronin price is moving within the upper half of the pitchfork, indicating a bullish bias in the medium term.
Additionally, the Volume Oscillator denotes positive and rising values, implying an increase in buying interest. As of now, the Ronin price is at $3.13, reflecting an 8% jump from its previous 24-hour price.