Today’s market session continues to be dominated by bears, leading to a drop in the global market cap. The total cap currently stands at $2.25T, representing a 4.11% decrease over the last 24 hours. However, the trading volume has seen a significant increase, reaching $73.7B during the same period, marking a 138% surge.
Bitcoin (BTC) has emerged as one of the top losers of the day, with its price movements indicating a potential oversold status as it hovers near the lower band. The Relative Strength Index (RSI) is currently at 35.41, nearing the oversold threshold, suggesting a possible rebound if buying pressure picks up. As of press time, Bitcoin is trading at $61,122, reflecting a 1.8% decrease over the last 24 hours.
Ethereum (ETH) is also experiencing a bearish trend, with the Alligator’s lines pointing downwards, signaling a potential downward trajectory. However, a crossover above these lines could hint at a potential upward trend. Ethereum’s price currently stands at $61,122, showing a slight 0.09% decrease over the last 24 hours.
On the other hand, Dogwifhat (WIF) has emerged as one of the gainers of the day, with its price crossing above the super trend line, possibly indicating a trend reversal. The volume oscillator is slightly negative, pointing to a decrease in volume, but a shift to the green zone could confirm a bullish reversal. Dogwifhat is currently trading at $1.89, marking a notable 23.67% increase over the last 24 hours.
Fetch.ai (FET) is also showing positive momentum, with its price above the Ichimoku cloud, signaling a potential bullish trend. The RSI is at 66.70, indicating strong buying momentum but approaching the overbought zone. Fetch.ai’s current trading price is $1.89, reflecting a 21% increase over the last 24 hours.
Lastly, Bonk (BONK) has seen a breakout from the falling wedge pattern, typically a bullish signal, with the MFI at 60.62, indicating healthy buying pressure. However, further upward movement could push the index to overbought levels, possibly resulting in a correction. Bonk is currently trading at $0.00002255, marking a 17.7% increase over the last 24 hours.