The current market session continues to be dominated by bears, with a noticeable decrease in the global market cap over the past day. The total market cap is currently at $2.43 trillion, reflecting a 4.77% decline in the last 24 hours.
Bitcoin Price Update
Bitcoin’s price movement today shows signs of correction. A closer look reveals that Bitcoin is facing bearish pressure, trading below the 20 and 50 Simple Moving Averages (SMAs). The cryptocurrency is hovering near the lower boundary, indicating a bearish trend.
However, the Money Flow Index (MFI) stands at 24.07, signaling an oversold condition. If buyers enter the market, this could potentially lead to a reversal or a bounce. At present, the price of Bitcoin is $67,361, showing a slight 0.6% decrease from its price in the previous 24 hours.
Ethereum Price Update
Ethereum is also experiencing corrections in today’s trading session, evident from its price movements. Analysis of Ethereum’s price charts reveals that it is currently in a bearish phase, as indicated by the Supertrend indicator above the price in red.
On the other hand, the Awesome Oscillator is showing a small green bar following a series of red bars, suggesting a possible weak bullish momentum or a slowdown in the bearish trend. As of now, Ethereum is priced at $3,520, marking a 0.5% drop from its previous 24-hour price.
Bonk Price Update
Bonk emerges as the top gainer today, with its price rising during the current session. A detailed analysis indicates a bearish trend with the price below the Ichimoku Cloud, acting as a resistance level. The ADX stands at 29.18, pointing towards a strong trend, although the declining trend strength and price below the cloud suggest a continuation of the bearish trend. The current price of Bonk is $0.00002844, showing an 8.9% increase from its price in the previous 24 hours.
Pepe Price Update
Pepe also shows gains in today’s session, with its price movements reflecting a similar bearish trend as seen in the Ichimoku Cloud. The ADX indicates a strong trend at 29.18, although the weakening trend strength and price below the cloud suggest a continuation of the bearish trend. Pepe is currently priced at $0.00001293, marking an 8.7% increase from its price in the previous 24 hours.
Stacks Price Update
Stacks is another gainer in today’s session, with its price movements indicating a bearish trend within the Auto Pitchfork, outlining downward channels. The recent price action is within the lower half of the channel, suggesting a bearish bias.
Additionally, the Woodies CCI below the zero line further reinforces the bearish momentum in the pitchfork analysis. The current price of Stacks is $2.16, showing a 3.16% increase from its previous 24-hour price.