The global market cap has seen a decline, indicating that bears are still in control. The total cap currently stands at $2.41 trillion, marking a 0.29% drop in the past 24 hours. Trading volume has increased by 20% to reach $50.7 billion during the same period.
Bitcoin Price Analysis
Despite the prevailing bearish trend, Bitcoin (BTC) has managed to make some gains today. An in-depth look reveals that the Bitcoin price is currently below the Ichimoku Cloud, signaling a bearish trend. The red and expanding cloud suggests that bearish momentum may continue.
The Relative Strength Index (RSI) stands at 43.25, indicating that the market is bearish but not yet oversold. At the time of writing, Bitcoin was trading at $66,974, showing a 0.55% increase in the last 24 hours.
Ethereum Price Update
Ethereum (ETH), on the other hand, has not seen any gains today. Analyzing the price movements, we observe that Ethereum is currently touching the lower Bollinger Band, which could signal a potential short-term reversal or further bearish movement if it breaks below.
The Awesome Oscillator (AO) is displaying red bars below the zero line, indicating bearish momentum. Ethereum was trading at $3,567 at press time, reflecting a 0.77% decrease in the last 24 hours.
Ripple Price Movement
Ripple (XRP) has experienced significant gains in today’s session. The Supertrend indicator is showing a buy signal as the price remains above the green line, representing support.
Additionally, the Woodies Commodity Channel Index (CCI) is above 100 (206.89), indicating a strong bullish signal. Ripple was trading at $0.5143 at the time of writing, showing a 5.2% increase in the last 24 hours.
Solana Price Update
Solana (SOL) has not seen any gains today either. An analysis of the price movements suggests a potential bullish reversal if the price breaks above the neckline.
The RSI is around 47.43, indicating a neutral stance but leaning towards bullish territory as it is above the oversold range. Solana was trading at $146.28 at press time, reflecting a 1.2% decrease in the last 24 hours.
Near Protocol Price Movement
Near (NEAR) has also failed to make gains in today’s session. The price is currently at the lower boundary of the wedge pattern, hinting at a potential breakout.
The volume oscillator is indicating an increase in volume, supporting the possibility of a breakout. Near Protocol was trading at $5.4 at the time of writing, showing a 3.8% decrease in the last 24 hours.
