Market Bears Take Control as Global Market Cap Declines
The bears have taken control of today’s market session, leading to a decrease in the global market cap over the past day. As of press time, the total cap stood at $2.6 trillion, representing a 0.57% decrease in the previous 24 hours. Additionally, the trading volume stood at $99.77 billion, marking a significant 40.49% decrease.
Bitcoin Price Consolidates as Market Volatility Increases
Bitcoin (BTC) is currently consolidating in today’s session, as indicated by its price movements. Upon closer analysis, it is evident that the Bollinger Bands are widening, suggesting an increase in market volatility. The recent formation of a bearish candlestick close to the lower band could potentially signal a reversal or further decline in price.
The Awesome Oscillator, displayed at the bottom of the chart, reveals a trend of decreasing red bars. This indicates a weakening bullish momentum. At present, the Bitcoin price stands at $69,589, reflecting a 0.32% decrease in valuation over the past 24 hours.
Ethereum Posts Gains and Displays Strong Bullish Phase
In contrast, Ethereum (ETH) has experienced some gains in today’s session, as evident from its price movements. A detailed analysis shows that Ethereum has undergone a significant bullish surge, surpassing the resistance of the super trend indicator, which now acts as support. The super trend has turned green, signaling a strong bullish phase.
However, the Relative Strength Index (RSI), although not displayed, would likely indicate overbought conditions due to the steep ascent. On the other hand, the Woodies CCI oscillates around zero, indicating a weak trend. As of press time, the Ethereum price stands at $3,784, representing a 0.6% increase in valuation over the past 24 hours.
Kaspa Exhibits Moderate Upward Trend with Weak Bull Trend
Kaspa (KAS) also shows gains in today’s session, as evidenced by its price movements. A thorough analysis of Kaspa’s price charts reveals a moderate upward trend within a rising channel, characterized by higher lows and higher highs.
Furthermore, the Alligator indicator demonstrates a bullish alignment, with the jaw (blue), teeth (red), and lips (green) lines in the correct order for a continued upward trend. However, the ADX holds a value of 24, indicating a weak bull trend. As of press time, the Kaspa price stands at $0.1412, reflecting a 6.16% increase in valuation over the past 24 hours.
Dogwifhat Sees Indeterminate Trend with Increasing Selling Pressure
Dogwifhat (WIF) is also among the gainers in today’s session, as observed from its price movements. A comprehensive analysis reveals that the Ichimoku Cloud is mixed, with the Dogwifhat price currently positioned between the red cloud (Senkou Span B) and the green cloud (Senkou Span A), indicating a lack of a clear trend.
However, the money flow index is now heading south, indicating an increase in selling pressure on the meme coin. As of press time, the Dogwifhat price stands at $3.01, reflecting a 5.54% increase in valuation over the past 24 hours.
Pepe Displays Bullish Momentum after Consolidation Phase
Pepe (PEPE) has also experienced gains in today’s session, as evidenced by the token’s price increase. A detailed analysis shows that the Pepe price action indicates a recent bullish rally following a consolidation phase. The Auto Pitchfork suggests that the Pepe price is currently testing the median line, which could serve as a pivot point for further movements.
On the other hand, the volume oscillator, currently in the negative, is trending upward, indicating a shift in momentum from bearish to bullish. As of press time, the Pepe price stands at $0.0000142, representing a 3.5% increase over the past 24 hours.
