Description: The cryptocurrency market is showing negative dynamics today, as shown by the red heat map. Bitcoin (#BTC) is down -6.38% and is trading at $58,898.20, while Ethereum (#ETH) is down -8.79%, reaching $2,452.67. Solana (#SOL) is also showing a significant drop of -7.97%, trading at $145,579.
Top 100 cryptocurrencies:
đ Biggest drop in the last 24 hours:#ETH(-8.79%)
đ Minimum decrease:#TON(-1.9%)
Technical indicators:
The Fear and Greed Index has dropped to 30, indicating that fear is prevalent in the market. Investors are pessimistic and risk averse.
RSI (Relative Strength Index) for most assets, including#BTCand #ETH, shows values ââin the "weak" zone, which confirms the current bearish sentiment in the market.
On-chain data:
Bitcoin's dominance remains at 54.86%, highlighting its significant influence on the market despite the overall decline.
Trading volume is showing a decline, which could be a signal for a possible continuation of the bearish trend in the short term.
Conclusions: đ± The market is under strong pressure, and current indicators point to a weakening of buying activity.
đŹ In these conditions, it is recommended to exercise extreme caution when entering new positions and carefully analyze current support and resistance levels.
đ Keep a close eye on further market developments, especially the behavior of key assets such as#BTCand #ETH.
#BTCđ„đ„đ„đ„ #ETHâ #SOL #CryptoInvesting#Cryptocurrencies
đ âĄïž@INVESTIDEAUA INVEST IDEA
