Bulls have taken a back seat in today’s trading session as evidenced by the decline in the global market cap. The total market cap currently sits at $2.35 trillion, reflecting a 3% decrease over the past 24 hours, with trading volume surging by 106% to reach $97.2 billion.
Bitcoin Price Analysis
Bitcoin (BTC) is experiencing a pullback in today’s session, hinting at a bearish sentiment based on its price action. A closer look reveals that volatility is on the rise as the bands widen. The price has broken below the middle band, indicating a potential continuation of the downward trend.
Meanwhile, the Volume Oscillator stands at 19.89%, suggesting moderate trading volume. Recent spikes in volume align with the price drop, signaling increased selling pressure. At the time of writing, Bitcoin is priced at $65,566, marking a 0.77% decrease over the last 24 hours.
Ethereum Price Analysis
Ethereum (ETH) is also facing losses in today’s session, with the price sitting at $3,440 and trading below the Alligator indicator’s moving averages, which are arranged for a bearish trend (Lips < Teeth < Jaw). The divergence between the moving averages points to a strong downtrend, with the lines pointing downwards to confirm the bearish outlook.
Additionally, the Awesome Oscillator is showing red bars, indicating bearish momentum. The recent surge in red bars suggests an increase in bearish pressure. As of now, Ethereum is trading at $3,441, representing a 2.8% decrease over the last 24 hours.
Ripple Price Analysis
Ripple (XRP) stands out as the sole gainer in today's session despite the prevailing bearish sentiment, as indicated by its price movements. The price of Ripple is below the Supertrend resistance level at $0.4914, maintaining a bearish trend as long as it remains below this level.
On the other hand, the Money Flow Index is at 60.67, nearing the overbought territory from the neutral zone. This suggests caution as a price reversal may occur if the upward momentum continues. Currently, Ripple is trading at $0.4938, showcasing a 1.8% increase over the last 24 hours.
Worldcoin Price Analysis
Worldcoin (WLD) emerges as one of today's biggest losers based on its price movements. The price of Worldcoin is around $2.767, trading below the Ichimoku Cloud, signaling a bearish trend. It remains well below the Kumo cloud, with the future cloud also indicating a bearish outlook (Senkou Span A < Senkou Span B). The Tenkan-sen and Kijun-sen lines also confirm bearish momentum.
Furthermore, the Woodies CCI stands at -165.673, pointing to strong bearish momentum. With the CCI below -100, the downtrend is confirmed. Presently, Worldcoin is priced at $2.77, showing a 15.6% decrease over the last 24 hours.
Core DAO Price Analysis
Core DAO (CORE) is among the top losers in today's trading session, with the price breaking below the lower boundary of the pitchfork channel, indicating a robust bearish trend. To negate this bearish outlook, the price must re-enter the pitchfork channel.
Moreover, the Volume Oscillator is at 23.48%, signaling an uptick in volume. This surge in volume alongside a price decline points to significant selling pressure. At the moment, Core DAO is trading at $1.34, reflecting a 16.3% decrease over the last 24 hours.