Today’s market session still has bears on the front foot, as seen from the drop in the global market cap over the last day. The total cap stood at $2.43T as of press time, representing a 4.77% drop in the previous 24 hours.
Bitcoin Price Review
Bitcoin’s (BTC) price movements show corrections in today’s session. An in-depth analysis shows that the Bitcoin price is under bearish pressure, currently below the 20 and 50 SMAs.The crypto king trades close to the lower boundary, indicating bear pressure.
On the other hand, the Money Flow Index (MFI) is at 24.07, indicating an oversold condition. If buyers step in, this could suggest a potential reversal or bounce. As of press time, the Bitcoin price stood at $67,361, representing a 0.6% drop from its previous 24-hour price.
4-hour BTC/USD Chart | Source: TradingView Ethereum Price Review
Ethereum (ETH) also faces corrections in today’s session, as seen from its price movements. Analysing Ethereum price charts, we see that the Bonk price is currently in a bearish phase as indicated by the Supertrend indicator, which is above the cost and red.
On the other hand, the Awesome Oscillator shows a small green bar after a series of red bars, suggesting a potential for a weak bullish momentum or a slowdown in the bearish momentum. As of press time, the Bitcoin price stood at $3,520, a 0.5% drop from its previous 24-hour price.
4-hour ETH/USD Chart | Source: TradingView Bonk Price Review
Bonk (BONK) is today’s top gainer, as seen by its price increase during today’s session. Looking at an in-depth analysis, we see that the Ichimoku Cloud shows a bearish trend with the price below the cloud. The cloud acts as resistance in this case.
On the other hand, the ADX is at 29.18, indicating a strong trend. However, the declining trend strength and price below the Ichimoku Cloud suggest a bearish continuation. As of press time, the Bonk price stood at $0.00002844, an 8.9% pump from its previous 24-hour price.
4-hour BONK/USDT Chart | Source: TradingView Pepe Price Review
Pepe (PEPE) is also among the gainers in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Ichimoku Cloud shows a bearish trend with the price below the cloud. The cloud acts as resistance in this case.
Conversely, the ADX is at 29.18, indicating a strong trend. The declining trend strength and price below the Ichimoku Cloud suggest a bearish continuation. As of press time, the Pepe price stood at $0.00001293, an 8.7% pump from its previous 24-hour price.
4-hour PEPE/USDT Chart | Source: TradingView Stacks Price Review
Stacks (STX) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the Stacks price is in a bearish trend within the Auto Pitchfork, indicating downward channels. The recent price action is within the lower half of the channel, indicating a bearish bias.
On the flip side, the Woodies CCI is below the zero line, reinforcing the bearish momentum in the pitchfork analysis. As of press time, the Stacks price stood at $2.16, a 3.16% pump from its previous 24-hour price.
4-hour STX/USDT Chart | Source: TradingView
