Bears continue to dominate the current trading session, resulting in a decline in the global market cap. At present, the total market cap stands at $2.26 trillion, reflecting a 0.59% decrease in valuation over the past day. Additionally, the trading volume has dropped by 31% within the same period, amounting to $57.7 billion.
Bitcoin (BTC) has experienced some corrections in today’s session, evident from its price movements. A detailed analysis reveals a downward trend in the Bitcoin price, which has recently stabilized near the lower band. This suggests a potential oversold condition or a pause in the bearish momentum. Woodie’s CCI, oscillating around the -100 level, indicates a bearish sentiment. The lack of upward momentum in CCI further signifies negative market sentiment. As of now, Bitcoin is trading at $60,585, representing a 1.58% decrease over the last 24 hours.
Moving on to Ethereum (ETH), it has also failed to record gains in today’s session. The price movements indicate a lack of clear trends and a consolidation phase, as the lines of the Alligator intertwine and the price weaves around them. The MFI, near the 68 mark, suggests moderate buying interest but not strong enough for a bullish reversal. Ethereum is currently trading at $3,367, reflecting a 0.62% decrease over the last 24 hours.
Kaspa (KAS) stands out as one of the gainers in today’s session. A detailed analysis of Kaspa’s price charts reveals a bullish breakout, as it recently broke above the Ichimoku Cloud. The conversion line (blue) above the baseline (red) supports this bullish momentum. However, caution is advised as the RSI is around 73, indicating potential overbought territory, which might lead to a pullback or consolidation in the near term. Kaspa is trading at $0.1753, representing a 9.62% increase over the last 24 hours.
Maker (MKR) is another gainer in today’s session. An in-depth analysis of Maker’s price charts shows a clear double-bottom pattern, typically a bullish reversal pattern. The second bottom is currently forming, and if the price breaks above the neckline (dotted line), it could confirm the reversal. The Awesome Oscillator (AO) displays increasing green bars, indicating growing bullish momentum and supporting the potential breakout from the double bottom pattern. Maker is currently trading at $2,522.35, reflecting a 7.36% increase over the last 24 hours.
Lastly, Flare (FLR) is also experiencing gains in today’s session. The Flare price is moving towards the upper edge of the cloud, and a break above the cloud would be considered a bullish sign. The Volume Oscillator indicates increasing volume as the price approaches the cloud, suggesting rising interest that could support a bullish breakout. Flare is trading at $0.02456, representing a 4.74% increase over the last 24 hours.
