The global market cap is experiencing a decline, with bears dominating the scene. Currently, the total cap sits at $2.41 trillion, reflecting a 0.29% decrease in the last 24 hours. Trading volume has seen a significant increase, reaching $50.7 billion, a 20% surge over the same period.
Bitcoin (BTC) has managed to make some gains amid the prevailing bear trend. However, a closer look reveals that the Bitcoin price is below the Ichimoku Cloud, indicating a bearish trend. The expanding red cloud ahead suggests that bearish momentum may continue. The Relative Strength Index (RSI) stands at 43.25, signifying a bearish market without being oversold. At the moment, Bitcoin is trading at $66,974, showing a 0.55% increase in the last 24 hours.
Ethereum (ETH) has struggled to gain ground in today’s session. The price movements indicate that Ethereum is currently touching the lower Bollinger Band, hinting at a potential short-term reversal or further bearish movement if it breaks below. The AO indicator shows red bars below the zero line, indicating bearish momentum. Ethereum is trading at $3,567, marking a 0.77% decrease over the last 24 hours.
Ripple (XRP) stands out as one of the top gainers today. The Supertrend indicator shows a buy signal with the price above the green line (support). Additionally, the Woodies CCI is above 100 (206.89), signaling a strong bullish trend. Ripple is trading at $0.5143, showing a 5.2% increase in the last 24 hours.
Solana (SOL) has not been able to gain momentum in today’s session. The pattern suggests a potential bullish reversal if the price breaks above the neckline. The RSI hovers around 47.43, indicating a neutral stance but leaning towards bullish territory. Solana is currently trading at $146.28, with a 1.2% decrease in the last 24 hours.
Near Protocol (NEAR) has also struggled to make gains today. The price is at the lower boundary of the wedge, hinting at a potential breakout. The volume oscillator shows an increase in volume, supporting the possibility of a breakout. Near Protocol is trading at $5.4, marking a 3.8% decrease in the last 24 hours.