Bears continue to dominate today’s market session, as seen from the drop in the global market cap. The total cap stood at $2.25T as of press time, representing a 4.11% drop over the last 24 hours. On the other hand, the trading volume stood at $73.7B as of the same period, representing a 138% pump over the last 24 hours.
Bitcoin Price Review
Its price movements show that Bitcoin (BTC) is among the day’s top losers. An in-depth analysis of Bitcoin price charts shows that the Bitcoin price is moving close to the lower band, indicating that it may be oversold. A slight uptick towards the centre band suggests a potential reversal.
On the other hand, looking at the RSI (Relative Strength Index) is at 35.41, which is close to the oversold threshold of 30. This suggests that the price might rebound soon if buying pressure increases. As of press time, Bitcoin traded at $61,122, representing a 1.8% decrease over the last 24 hours.
4-hour BTC/USD Chart | Source: TradingView Ethereum Price Review
Ethereum (ETH) is another loser in today’s session, as seen from the price movements. An in-depth analysis shows that the Alligator’s lines (green, red, blue) are intertwined and spreading apart downwards, indicating a bearish trend. If the Ethereum price starts to cross above these lines, it may suggest the beginning of an upward trend.
On the other hand, the AO (Awesome Oscillator) shows a series of red bars, indicating bearish momentum. Switching to green bars or a zero-line crossover might suggest a bullish reversal. Ethereum traded at $61,122 as of press time, representing a 0.09% decrease over the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView Dogwifhat Price Review
Dogwifhat (WIF) is among the gainers in today’s session, as seen from its price movements. An in-depth analysis shows that the supertrend is in red, indicating a bearish trend. The Dogwifhat price has recently crossed above the super trend line, which could indicate a potential trend reversal if sustained.
On the other hand, the volume oscillator is slightly negative, suggesting a decline in volume. Increased volume in the green zone could confirm a bullish reversal. Dogwifhat traded at $1.89 as of press time, representing a 23.67% increase over the last 24 hours.
4-hour WIF/USDT Chart | Source: TradingView Fetch.ai Price Review
Fetch.ai (FET) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the Fetch.ai price is above the Ichimoku cloud, indicating a potential bullish trend. The leading span is turning green, reinforcing the bullish signal.
On the other hand, the RSI is at 66.70, indicating strong buying momentum but approaching the overbought zone. Fetch.ai traded at $1.89 as of press time, representing a 21% increase over the last 24 hours.
4-hour FET/USDT Chart | Source: TradingView Bonk Price Review
Bonk (BONK) is another gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the Bonk price has broken out of the falling wedge pattern, which is typically a bullish signal. The target level is marked and suggests significant upward potential.
On the other hand, the MFI (Money Flow Index) is at 60.62, indicating healthy buying pressure but not yet overbought. Further upward price movement could see this index rise to overbought levels, potentially indicating a correction. Bonk traded at $0.00002255 as of press time, representing a 17.7% increase over the last 24 hours.
4-hour BONK/USDT Chart | Source: TradingView