The bears dominated today’s market session, evident in the decrease in the global market cap. At the current moment, the total cap is at $2.54 trillion, marking a 0.4% decline in the last 24 hours. Simultaneously, the trading volume is at $52.19 billion, reflecting a 0.3% decrease in the same timeframe.
Bitcoin Price Analysis
Bitcoin (BTC) is experiencing significant corrections today, as indicated by its price movement. A detailed examination reveals that the Awesome Oscillator (AO) is showing a deep negative value, confirming the bearish trend. The sudden decline is evident from the size of the red histogram bars.
The current price is hovering close to the lower Bollinger Band, suggesting potential support around $67,600. Resistance could be encountered near the 20-period SMA at approximately $69,400. As of now, the Bitcoin price is at $67,746, down by 2.3% from the previous 24-hour price.
Ethereum Price Analysis
Ethereum (ETH) is also undergoing a correction in today’s session, as observed from its price movements. An analysis reveals that the CCI is in the oversold region, hinting at a possible short-term rebound or consolidation, despite the prevailing bearish trend.
Immediate support is around $3,542, while resistance is likely near the Alligator’s green line at $3,650. Currently, the Ethereum price stands at $3,540, reflecting a 3.5% decrease from its previous 24-hour price.
Akash Price Analysis
Akash (AKT) is showing positive movement in today’s session. A detailed analysis indicates that Akash Network has recently seen a significant uptick in its last candle. However, the overall trend remains bearish, with the price trading below the SuperTrend indicator.
The RSI has spiked to 63, suggesting an increase in bullish momentum in the short term, potentially signaling a trend reversal or pullback. At present, the Akash price is at $4.43, marking a 5.9% increase from its previous 24-hour price.
Gnosis Price Analysis
Gnosis (GNO) has also shown gains in today’s session. An analysis reveals that the MFI is at 78, indicating a potential overbought market condition that could lead to a pullback.
Support may be seen at the top boundary of the Ichimoku cloud around $344, while resistance could be expected at the recent high of approximately $350. The current Gnosis price is $349.46, up by 8.8% from its previous 24-hour price.
Injective Price Analysis
Injective (INJ) has demonstrated positive movement in today’s session. A thorough analysis of Injective price charts suggests a bullish rebound, with the price rising within an auto pitchfork, indicating controlled upward momentum.
Although the volume oscillator is negative, indicating a lower conviction for the recent price increase, the current price stands at $29.57, reflecting a 10.2% increase from its previous 24-hour price.