Today’s market session continues to be dominated by bears, with a noticeable drop in the global market cap. The total cap currently stands at $2.32 trillion, reflecting a 3.73% decrease in the last 24 hours. However, trading volume remains high at $99.08 billion, marking a 38% increase.
Bitcoin (BTC) stands out as a gainer amidst the bearish trend, with its price movements showing resilience. The Supertrend indicator is currently red, indicating a bearish trend, but Bitcoin is attempting to break above the resistance line at $66,270.58. The Average Directional Index is at 25.31, suggesting a weak trend, but traders should monitor any increase in the ADX for trend strength. At present, Bitcoin is trading at $65,549, showing a 0.06% increase in the last 24 hours.
Ethereum (ETH) is also performing well today, bouncing off the lower Bollinger Band for a potential short-term bullish reversal. The 20 SMA indicates a bearish trend in the medium term. The Awesome Oscillator (AO) is below zero but showing a decrease in bearish momentum, with a potential bullish trend if it crosses above the zero line. Ethereum is currently trading at $3,560, reflecting a 3.5% increase in the last 24 hours.
Lido DAO (LDO) is among the top gainers today, with Alligator’s lines converging to suggest potential consolidation. A crossover of the green line above the red line could indicate a bullish trend forming. The Awesome Oscillator (AO) has crossed above zero, signaling a bullish trend, with positive momentum possibly leading to further price increases. Lido DAO is trading at $2.37, showing a 19.3% increase in the last 24 hours.
Ethereum Name Service (ENS) has broken above the Ichimoku cloud, indicating a bullish trend, with a green cloud ahead suggesting continued bullish sentiment. The MACD line is above the signal line, supporting the bullish trend, with positive histogram bars indicating bullish momentum. Ethereum Name Service is currently trading at $26.57, showing a 16.68% increase in the last 24 hours.
Maker (MKR) is also experiencing gains today, approaching the upper boundary of the pitchfork which could indicate potential resistance. The Volume Oscillator is at 14.59%, pointing to moderate trading volume. A breakout above the boundary could lead to further bullish movement. Maker is trading at $2,488.94, reflecting a 12.99% increase in the last 24 hours.