The current market session continues to be dominated by bears, as evidenced by the decline in the global market cap. At the moment, the total cap sits at $2.31 trillion, reflecting a 3.52% drop in the past 24 hours. Meanwhile, the trading volume has increased by 0.75% to reach $83.05 billion.
Bitcoin Price Analysis
Bitcoin ($BTC) is not experiencing any gains in today’s session, as indicated by its price movements. A closer look reveals that the Supertrend indicator has recently shifted from a bearish red to a bullish green, suggesting a potential uptrend. The price of Bitcoin has surpassed the Supertrend indicator, confirming a bullish trend. However, the ADX value is currently at 22.43, indicating a weak trend strength. Typically, ADX values above 25 indicate stronger trends. As of now, Bitcoin is trading at $64,163, marking a 2.7% decrease in the last 24 hours.
Ethereum Price Analysis
Ethereum ($ETH) has also experienced a significant correction in today’s session, as observed from its price movements. Analysis shows that the price has recently touched the lower Bollinger Band, hinting at a potential oversold condition and a potential reversal. The widening Bollinger Bands suggest increased volatility. While the Awesome Oscillator is in negative territory, signaling bearish momentum, the diminishing histogram bars indicate a possible weakening of the bearish trend. Ethereum is currently trading at $3,170, showing a 7.97% decrease in the last 24 hours.
Pyth Network Price Analysis
Pyth Network (PYTH) is one of the gainers in today’s session, as evidenced by its price movements. A detailed analysis reveals that the Alligator indicator’s lines are intertwined, indicating a ranging market with no clear trend. The Pyth Network price is moving along the Alligator’s jaw (blue line), showing indecision. Additionally, the Woodies CCI values fluctuate around the zero line, confirming the ranging market. Pyth Network is trading at $0.3518, marking a 2.35% increase in the last 24 hours.
Flow Price Analysis
Flow (FLOW) is also among the gainers in today’s session, based on its price movements. Analysis shows that the Flow price is currently above the Ichimoku Cloud, signaling a bullish trend. The leading span lines (Senkou Span A and B) suggest potential support around $0.652. Although the Woodies CCI is above the zero line, indicating bullish momentum, it is starting to decrease, hinting at a possible pullback. Flow is trading at $0.6284, reflecting a 0.09% increase in the last 24 hours.
Tron Price Analysis
Despite the overall bearish trend, Tron ($TRX) is showing gains in today’s session. Analysis indicates that the Pitchfork suggests a channel where the price is moving upward. The Tron price is near the lower boundary of the Pitchfork, potentially indicating support. However, the ADX value is at 15.28, suggesting weak trend strength. Tron is currently trading at $0.1354, showing a 0.97% increase in the last 24 hours.