Bears continue to dominate the current trading session, as evidenced by the decline in the global market cap. At present, the total market cap stands at $2.26 trillion, reflecting a 0.59% decrease in valuation over the past day. Additionally, trading volume has dropped by 31% within the same period, reaching $57.7 billion.
Bitcoin (BTC) has experienced some corrections in today’s session, as indicated by its price movements. A detailed analysis reveals that the Bitcoin price is trending downwards and has recently stabilized near the lower band, suggesting a potential oversold condition or a temporary pause in the bearish momentum.
Meanwhile, Woodie’s CCI indicator hovers around the -100 level, generally indicating a bearish sentiment. The lack of upward momentum in CCI suggests that market sentiment remains negative. As of now, Bitcoin is being traded at $60,585, representing a 1.58% decrease over the past 24 hours.
Ethereum (ETH) has also failed to generate gains in today’s session, as observed from its price movements. A thorough analysis shows that the lines of the Alligator indicator are intertwining, and the price is fluctuating around them, indicating a lack of clear trends and a consolidation phase.
On the other hand, the MFI (Money Flow Index) is close to the 68 mark, which is moderately high. This suggests buying interest, although it is not strong enough for a bullish reversal. Ethereum is currently traded at $3,367, reflecting a 0.62% decrease over the past 24 hours.
Kaspa (KAS) stands out as one of the gainers in today’s session, based on its price movements. A detailed analysis of Kaspa price charts reveals that it has recently broken above the Ichimoku Cloud, signaling a bullish breakout. The position of the conversion line (blue) above the baseline (red) supports this bullish momentum.
However, the RSI (Relative Strength Index) is currently around 73, indicating that the market may be entering overbought territory. This could potentially lead to a pullback or consolidation in the near future. Kaspa is currently traded at $0.1753, reflecting a 9.62% increase over the past 24 hours.
Maker (MKR) is also among the gainers in today’s session, as observed from its price movements. A detailed analysis of Maker price charts shows a clear double-bottom pattern, which is generally considered a bullish reversal pattern. The second bottom is currently forming, and if the price breaks above the neckline (dotted line), it could confirm the reversal.
Looking at other indicators, the Awesome Oscillator (AO) displays increasing green bars, indicating growing bullish momentum and supporting the potential breakout from the double bottom pattern. Maker is currently traded at $2,522.35, reflecting a 7.36% increase over the past 24 hours.
Flare (FLR) is another gainer in today’s session, based on its price movements. A thorough analysis reveals that the Flare price is moving towards the upper edge of the cloud. A break above the cloud would be a bullish sign.
The Volume Oscillator shows increasing volume as the price approaches the cloud, suggesting rising interest that could support a bullish breakout. Flare is currently traded at $0.02456, reflecting a 4.74% increase over the past 24 hours.