The prevailing bears have taken control of today’s trading session, resulting in a decline in the global market cap. At the time of writing, the total cap stood at $2.32 trillion, indicating a 1.01% decrease over the past 24 hours. Additionally, the trading volume has dropped by 15.52% during the same period, settling at $70.82 billion.
Bitcoin, symbolized by $BTC, has failed to generate any gains in today’s session, evident from its price movements. A closer analysis reveals that Bitcoin’s price is currently below the 20 SMA (Simple Moving Average) but within the Bollinger Bands. This suggests a certain level of short-term stability within a broader bullish context. However, the Awesome Oscillator (AO) is currently in the negative zone and increasing in magnitude, indicating the growing momentum of bearish sentiment. As of now, Bitcoin is trading at $67,120, representing a 0.75% decrease over the last 24 hours.
Ethereum, represented by $ETH, is also not among the gainers in today’s session, as observed from its price movements. An in-depth analysis reveals that Ethereum’s price is currently below the Alligator’s lines, which are intertwined. This indicates a lack of a clear trend and a potential sideways market. On the other hand, the Money Flow Index (MFI) is quite low at 21.11, suggesting that Ethereum may be oversold and could attract buying interest in the near future. At present, Ethereum is trading at $2,617, reflecting a 1.43% decrease over the last 24 hours.
Celestia, denoted by $TIA, is one of today’s top gainers, evident from its price movements. A detailed analysis shows that Celestia’s price has moved above the green line but remains below the blue line, indicating a mixed signal between the short-term and medium-term trends. The Average Directional Index (ADX) is relatively low at 18.44, suggesting weak trend strength and the possibility of consolidation. Celestia is currently trading at $5.99, marking a 4.1% increase over the last 24 hours.
Beam, represented by $BEAM, is also among the gainers in today’s session, as observed from its price movements. A thorough analysis indicates that Beam’s price is now breaking through the upper boundary of the Ichimoku Cloud, which suggests a potential bullish breakout. However, the Money Flow Index (MFI) is high at 73.76, indicating that the asset may be approaching overbought conditions and could undergo a correction or consolidation. Beam is currently trading at $0.01934, indicating a 3.51% increase over the last 24 hours.
THORChain, symbolized by $RUNE, is also one of the gainers in today’s session, as seen from its price movements. A detailed analysis reveals that the THORChain price is fluctuating around the Supertrend line, which currently indicates no clear buy or sell signal. This reflects a consolidative phase for the asset. Moreover, the Volume Oscillator shows a negative value, suggesting decreasing volume accompanying price moves. This indicates a lack of conviction in the current price changes, which could potentially lead to reversals or continued consolidation. THORChain is trading at $5.17 at present, representing a 0.20% increase over the last 24 hours.
