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Today’s market session has seen bears on the front foot as seen from the drop in the global market cap. The total cap stood at $2.53B as of press time, representing a 2.43% decrease over the last 24 hours. The trading volume stood at $114B during the same period, representing a 9.18% increase over the same period.
Bitcoin Price Review
Bitcoin (BTC) is correcting today ahead of its recent pump, evidenced by its price movements. Analysing Bitcoin price charts, we see recent volatility with price movements tightly confined within the Bollinger Bands. After a bullish run, the price is currently retreating and has dropped below the 20-period SMA, indicating bearish momentum in the short term.
On the other hand, the ADX (Average Directional Index) is around 30.78, suggesting a relatively strong trend. The negative slope indicates that the strength is in the bearish trend. As of press time, the Bitcoin price stood at $66,881, a 3.6% decrease in valuation over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) is also correcting in today’s session as evidenced by the price movements. An in-depth analysis shows that Ethereum shows a significant bullish spike, breaking above previous resistance levels. After a retraction, the price currently stands near the middle of the Bollinger Bands.
On the other hand, the MFI (Money Flow Index) is at 39.96, indicating that the asset might be slightly oversold, suggesting potential buying opportunities. As of press time, the Ethereum price stood at $3,673, a 3% decrease in valuation over the last 24 hours.
Ondo Price Review
Despite the bear wave, Ondo (ONDO) is among the gainers in today’s session. An in-depth analysis shows that the Ondo price has been bullish over the recent period, well above the moving averages. It experienced a sharp rally followed by a moderate correction.
On the other hand, the CCI (Commodity Channel Index) is around 48.78, showing that the price is nearing overbought territory but still has room for upward movement. As of press time, the Ondo price stood at $1.05, an 8.3% increase in valuation over the last 24 hours.
Lido DAO Price Review
Lido DAO (LDO) is among the gainers in today’s session, as seen from its price movements. However, an in-depth analysis shows that LDO trades in a narrow range with choppy price action within the Ichimoku cloud, indicating a lack of clear trends and possible consolidation.
On the other hand, the MFI is at 55.14, suggesting a balance between buying and selling pressures. As of press time, the Lido DAO price stood at $2.25, a 7.68% increase in valuation over the last 24 hours.
Chainlink Price Review
Chainlink (LINK) is another gainer in today’s session as evidenced by its price movements. An in-depth analysis shows that Chainlink has entered a bullish phase as it rides upward along the auto pitchfork channel. The Chainlink price has retreated slightly after touching the upper boundary of the pitchfork.
On the other hand, the Volume Oscillator at 12.41% suggests increased trading volume during the price rise, backing the current bullish momentum. As of press time, the Chainlink price stood at $16.85, a 1.6% increase in valuation over the last 24 hours.
