The market session today was dominated by bears, with a noticeable decrease in the global market cap. The total cap was recorded at $2.56 trillion at the time of publication, marking a 3% decline over the past 24 hours. In contrast, the trading volume was $102.9 billion, showing a 37% decrease within the same time frame.
Bitcoin, the pioneer cryptocurrency, also experienced corrections during today’s session. A detailed analysis of the Bitcoin chart reveals a downtrend, with the price dipping below the 20 SMA on the Bollinger Bands. The narrowing Bollinger Bands indicate reduced volatility, while the Awesome Oscillator remains negative, signaling continued bearish momentum. The current Bitcoin price is $69,320, reflecting a slight 0.09% decrease from the previous 24-hour price.
Ethereum, the second-largest cryptocurrency, also saw a decline in price movements today. An analysis of the Ethereum chart shows a sharp downtrend followed by a consolidation phase. The Alligator indicator suggests a bearish trend, with the price below the jaws of the Alligator. The ADX is high at 48.36, indicating a strong downward trend. The Ethereum price currently stands at $3,688, representing a 0.12% drop from the previous 24-hour price.
ORDI (ORDI) emerged as a winner in today’s session, showcasing range-bound movement with the Supertrend staying green and the price hovering around the Supertrend line. The RSI is neutral at 50.16, suggesting a potential accumulation phase or indecisiveness among traders. The current ORDI price is $62.02, showing a 0.12% increase from the previous 24-hour price.
Tron (TRX) also experienced gains in today’s session, with the price action indicating a potential bullish trend reversal as it weaves around the Ichimoku Cloud. The MFI at 63.67 suggests buying pressure, with a possible bullish bias if the price remains above the Cloud. The current Tron price is $0.1156, reflecting a 2% increase from the previous 24-hour price.
On the other hand, Solana (SOL) failed to gain ground in today’s session, displaying a clear downtrend as indicated by the Auto Pitchfork. The price has faced resistance along the upper line of the descending channel, signaling a bearish sentiment. The Volume Oscillator shows a significant negative reading of -34.92%, indicating a drop in volume as the price declined. This may suggest weaker support levels as the price continues to fall. The current Solana price is $159.6, marking a 1.72% decrease from the previous 24-hour price.