The current market session has been dominated by bears, leading to a decrease in the global market cap which now stands at $2.53 billion, marking a 2.43% drop in the past 24 hours. However, trading volume has seen an increase, reaching $114 billion during the same period, reflecting a 9.18% rise.
Bitcoin Price Analysis
Bitcoin (BTC) is currently undergoing a correction following a recent surge in price. Looking at Bitcoin’s price charts, there has been notable volatility with prices staying within the Bollinger Bands range. Following a bullish trend, the price is now retracting and has fallen below the 20-period SMA, indicating a bearish trend in the short term.
The ADX stands at around 30.78, indicating a strong trend, with a negative slope showing bearish strength. At present, the price of Bitcoin is $66,881, reflecting a 3.6% decline in value over the past 24 hours.
Ethereum Price Update
Ethereum (ETH) is also experiencing a correction in today’s session, with price movements showing a bullish spike surpassing previous resistance levels. After a pullback, the price is currently hovering around the middle of the Bollinger Bands.
The MFI is at 39.96, suggesting a potential oversold situation and hinting at potential buying opportunities. As of now, the price of Ethereum is $3,673, marking a 3% decrease in value over the last 24 hours.
Ondo Price Movement
Despite the bearish trend, Ondo (ONDO) has shown gains in today’s trading session. Ondo’s price has been on a bullish trend recently, well above moving averages, experiencing a strong rally followed by a moderate correction.
The CCI is around 48.78, indicating that the price is approaching overbought levels but still has room for upward movement. Currently, the price of Ondo is $1.05, reflecting an 8.3% increase in value over the past 24 hours.
Lido DAO Price Performance
Lido DAO (LDO) has also seen gains in today’s session, with price movements indicating choppy action within the Ichimoku cloud, signaling a lack of clear trends and possible consolidation.
The MFI is at 55.14, indicating a balance between buying and selling pressures. At present, the price of Lido DAO is $2.25, showing a 7.68% increase in value over the last 24 hours.
Chainlink Price Movement
Chainlink (LINK) has shown gains in today’s session, with price movements indicating a bullish phase as it follows the auto pitchfork channel. Although the price has slightly retraced after touching the upper boundary of the pitchfork.
The Volume Oscillator at 12.41% suggests increased trading volume during the price rise, supporting the current bullish momentum. The current price of Chainlink is $16.85, marking a 1.6% increase in value over the last 24 hours.