The global market cap has experienced a decline, indicating that bears are dominating today’s market session. The total cap currently sits at $2.53 billion, representing a decrease of 2.43% in the last 24 hours. However, the trading volume has increased by 9.18% during the same period, reaching $114 billion.
Bitcoin (BTC) is undergoing a correction today after a recent surge in price. Looking at the Bitcoin price charts, we can observe high volatility with price movements tightly contained within the Bollinger Bands. Following a bullish run, the price is currently retracing and has fallen below the 20-period SMA, indicating a short-term bearish momentum.
On the other hand, the Average Directional Index (ADX) stands at 30.78, suggesting a relatively strong trend. The negative slope indicates that the strength lies in the bearish trend. At the time of writing, the Bitcoin price is $66,881, reflecting a 3.6% decrease in value over the past 24 hours.
Ethereum (ETH) is also experiencing a correction in today’s session, as evidenced by its price movements. A detailed analysis reveals a significant bullish spike for Ethereum, breaking above previous resistance levels. After a retracement, the price currently hovers near the middle of the Bollinger Bands.
Meanwhile, the Money Flow Index (MFI) is at 39.96, indicating a potential oversold condition for the asset and suggesting buying opportunities. As of now, the Ethereum price stands at $3,673, representing a 3% decrease in value over the last 24 hours.
Despite the bearish wave, Ondo (ONDO) stands out as one of the gainers in today’s session. A thorough analysis reveals that the Ondo price has been bullish recently, well above the moving averages. It experienced a sharp rally followed by a moderate correction.
Additionally, the Commodity Channel Index (CCI) is around 48.78, indicating that the price is approaching overbought territory but still has room for upward movement. Currently, the Ondo price is $1.05, reflecting an 8.3% increase in value over the past 24 hours.
Lido DAO (LDO) is also among the gainers in today’s session, apparent from its price movements. However, a detailed analysis shows that LDO is trading within a narrow range with choppy price action within the Ichimoku cloud, indicating a lack of clear trends and potential consolidation.
Furthermore, the MFI stands at 55.14, suggesting a balance between buying and selling pressures. At present, the Lido DAO price is $2.25, representing a 7.68% increase in value over the last 24 hours.
Chainlink (LINK) is another gainer in today’s session, as seen from its price movements. A thorough analysis reveals that Chainlink has entered a bullish phase, following an upward trajectory along the auto pitchfork channel. The Chainlink price has experienced a slight retreat after touching the upper boundary of the pitchfork.
Moreover, the Volume Oscillator indicates a 12.41% increase in trading volume during the price rise, supporting the current bullish momentum. Currently, the Chainlink price stands at $16.85, reflecting a 1.6% increase in value over the past 24 hours.
