The bears are still in control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $1.89T as of press time, representing a 12.59% decrease over the last 24 hours, while the trading volume jumped by 75% over the same period to stand at $117.56B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has plunged massively in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price has moved significantly below the lower Bollinger Band, indicating a potential oversold condition. This typically signals a possible reversal or a bounce-back. The bands are widening, suggesting increased volatility.
On the other hand, we see that the Bitcoin price is trading well below the 50 SMA, indicating a strong bearish trend. The 50 SMA is sloping downward, reinforcing the bearish sentiment. On the other hand, we see that the ADX (Average Directional Index) value is 54.22, which indicates a strong trend. Since the price is declining, the trend is bearish. Bitcoin traded at $52,454 as of press time, representing a 13.48% decrease over the last 24 hours.
4-hour BTC/USD Chart | Source: TradingView Ethereum Price Review
Ethereum, $ETH, is among the top losers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Alligator’s lines (jaw, teeth, and lips) are diverging, suggesting a strong bearish trend. The Ethereum price is trading below all the Alligator lines, confirming the bearish momentum.
On the other hand, we see that the Volume Oscillator shows a spike in volume, indicating strong selling pressure. Ethereum traded at $2,316 as of press time, representing a 20.4% decrease over the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView Lido DAO Price Review
Lido DAO, $LDO, is among the top loosers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that The Supertrend indicator is in the red, indicating a sell signal. The Lido DAO price is significantly below the Supertrend line, suggesting strong bearish pressure.
On the other hand, the Woodies CCI (Commodity Channel Index) values are deeply negative, indicating the asset is oversold. The strong negative CCI suggests that the downtrend may continue, but a potential reversal could be on the horizon due to oversold conditions. Lido DAO traded at $0.9825 as of press time, representing a 26.5% decrease over the last 24 hours.
4-hour LDO/USD Chart | Source: TradingView JasmyCoin price Review
JasmyCoin, $JASMY, is also among the top losers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the JasmyCoin price is trading below the Ichimoku Cloud, indicating a bearish trend. The Leading Span A and Leading Span B are both above the price, suggesting strong resistance above.
On the other hand, we see that the Awesome Oscillator (AO) is negative, confirming bearish momentum. The histogram bars are increasing in the negative direction, indicating strengthening bearish momentum. JasmyCoin traded at $0.01808 as of press time, representing a 24.45% decrease over the last 24 hours.
4-hour JASMY/USDT Chart | Source: TradingView Chainlink Price Review
Chainlink, $LINK, is also among the top losers as seen from its price movements. Looking at an in-depth analysis, we see that the Chainlink price is below the median line and lower boundary of the pitchfork, indicating a strong bearish trend. The Chainlink price is far below the lowest support line of the pitchfork, suggesting extreme bearish pressure.
On the other hand, we see that the ADX (Average Directional Index) value is 54.61, indicating a strong trend. Given the downtrend in price, this suggests strong bearish momentum. Chainlik traded at $8.87 as of press time, representing a 23.33% decrease over the last 24 hours.
4-hour LINK/USDT Chart | Source: TradingView
