In today’s trading landscape, the bears have taken the reins, evidenced by a dip in the global market capitalization, which now stands at $2.31 trillion—a 0.62% decline within a 24-hour window. Conversely, the trading volume has seen a slight uptick of 0.66%, reaching $53.4 billion.
**Bitcoin Price Analysis**
Bitcoin (BTC) finds itself on the losing side in the current market session, with its value movements painting a downtrend. A closer examination reveals that the Alligator Indicator’s Jaw (blue line) trails below the Teeth (red line) and Lips (green line), hinting at a bearish phase as the cryptocurrency’s price hovers beneath these averages. Nevertheless, the recent convergence of these lines could signal a pause in the downward trend or a possible consolidation phase.
Meanwhile, the Money Flow Index (MFI) reads at 52.10, a neutral stance, suggesting an equilibrium in buying and selling forces. At the moment, Bitcoin’s trading price is $61,848, marking a 2.8% rise from the previous day.
Bitcoin’s 4-hour Price Chart | Courtesy of TradingView
**Ethereum Price Analysis**
Ethereum (ETH) also ranks among today’s decliners, as indicated by its trading pattern. Delving deeper, we find Ethereum’s price oscillating near the Bollinger Bands’ middle marker, indicating a balance between supply and demand. The bands offer resistance at $3,504.64 and support at $3,355.27.
Additionally, the Volume Oscillator points to a -12.01% shift, suggesting a dwindling trade volume that often signals an impending directional shift. Currently, Ethereum is priced at $3,409, down by 1.51% since yesterday.
Ethereum’s 4-hour Price Chart | Courtesy of TradingView
**zkSync Price Analysis**
zkSync (ZK) is undergoing a correction in today’s market session. A thorough analysis of the zkSync chart reveals the Supertrend indicator flashing a sell signal, with the line positioned above the current price of 0.1764 USDT.
Other technical indicators, such as the Woodies CCI, stand at -71.6279, underscoring a bearish trend as it remains below the critical -100 mark. This persistent negative reading suggests a continued downward trajectory. At present, zkSync is trading at $0.1758, a 6.9% decrease from the last 24-hour period.
zkSync’s 4-hour Price Chart | Courtesy of TradingView
**Worldcoin Price Analysis**
Worldcoin (WLD) hasn’t managed to secure gains today, as its price activity demonstrates. A detailed look shows Worldcoin’s value beneath the Ichimoku Cloud, with the Tenkan-sen (conversion line) falling below the Kijun-sen (baseline), reinforcing the negative sentiment.
Conversely, the ADX (Average Directional Index) stands at 48.33, indicating a robust, albeit bearish, trend. Worldcoin’s current trading price is $2.25, reflecting a 0.7% reduction since the last 24 hours.
Worldcoin’s 4-hour Price Chart | Courtesy of TradingView
**Toncoin Price Analysis**
Toncoin (TON), however, is among the select few witnessing gains in today’s session. An in-depth look at the Auto Pitchfork tool reveals an ascending channel, with Toncoin’s price touching the upper boundary of the Pitchfork at approximately 8.041 USDT.
Moreover, the Awesome Oscillator (AO) displays positive bars above the baseline, indicating a bullish momentum. A break above the Pitchfork’s upper limit could herald a continuation of this upward trend. Toncoin is currently valued at $8.04, up by 4.79% in the last 24 hours.
Toncoin’s 4-hour Price Chart | Courtesy of TradingView