In today’s trading session, the bears have taken control, leading to a decrease in the global market cap. The total cap now stands at $2.44 trillion, marking a 0.39% decline over the past 24 hours. Trading volume has also dropped significantly to $69.8 billion, a 24% decrease from the previous day.
Bitcoin (BTC) is currently experiencing a bearish trend, with its price trading below the 20 SMA. The Bollinger Bands are expanding, indicating increased volatility, and recent price action shows a decline below the midline of the bands, signaling bearish momentum. The Woodies CCI suggests a trend reversal, moving from positive to negative territory, potentially shifting market sentiment to bearish. As of now, Bitcoin is priced at $66,190, reflecting a 1.2% decrease from its price 24 hours ago.
Ethereum (ETH), on the other hand, is showing some positive movement today. Despite some consolidation around the $3,500 level, bullish recovery attempts are being limited by downward sloping moving averages. The MFI indicator is trending upwards, indicating rising buying pressure, although the price remains under key moving averages that could act as resistance. At the moment, Ethereum is priced at $3,540, down by 0.97% from its price 24 hours ago.
Lido DAO (LDO) is also seeing gains today, with the price oscillating around the mid-range of the Ichimoku cloud. The MFI indicator shows a neutral sentiment, suggesting a lack of strong buying or selling pressure. Lido DAO is currently priced at $2.05, reflecting a 3.38% decrease from its price 24 hours ago.
Gnosis (GNO) is experiencing some volatility today, trading inside and below the lower boundary of the Ichimoku cloud, indicating bearish conditions. The MACD line is slightly below the signal line, with histograms showing a decrease in negative momentum, hinting at a potential slowdown in the downward trend. Gnosis is priced at $326.07, showing a 1.4% increase from its price 24 hours ago.
Optimism (OP) is also showing gains today, although its price is below the Ichimoku Cloud, signaling a bearish trend. The cloud acts as resistance, with the nearest resistance highlighted around $338.8. The MACD has crossed above the signal line, a bullish signal, but the histogram still shows negative values, indicating that bullish momentum may not be very strong yet. Currently, Optimism is priced at $2.06, up by 1.46% from its price 24 hours ago.