Market Overview
The bears are taking back control in today’s session as indicated by the decrease in the global market cap. The total cap stood at $2.64T as of press time, representing a 7.25% decrease over the last 24 hours. Meanwhile, the trading volume increased by 3.65%, reaching $165.46B.
Bitcoin Price Review
Bitcoin, $BTC, has failed to gain momentum in today’s session. An in-depth analysis reveals that BTC is in a sharp decline, following a downward-sloping channel. The MFI indicates an oversold condition, suggesting a potential rebound if buying pressure increases. However, the overall trend remains bearish unless a breakout above resistance occurs. Bitcoin traded at $80,175 at press time, reflecting a 6.95% decrease over the last 24 hours.
4-hour BTC/USD Chart | Source: TradingView
Ethereum Price Review
Ethereum, $ETH, is also not among the gainers today, with continued downward movement. The ADX above 40 confirms a strong downtrend, while moving averages act as resistance. Resistance at $2,500 remains a key barrier. Ethereum traded at $2,136 as of press time, marking a 9.4% decrease in the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView
Ripple Price Review
Ripple, $XRP, has not seen any gains in today’s session, showing continued downtrend movement. The price action stays below the Supertrend resistance zone, and the ADX indicates strong downward momentum. Ripple traded at $2.04 as of press time, representing an 8.22% decrease over the last 24 hours.
4-hour XRP/USDT Chart | Source: TradingView
Cardano Price Review
Cardano, $ADA, is among the few gainers today, testing the lower Bollinger Band. The low MFI suggests a potential short-term bounce; however, the trend remains bearish. A rally would need to break above $0.66 to confirm a shift in momentum. Cardano traded at $0.6044 as of press time, reflecting a 9.61% increase over the last 24 hours.
4-hour ADA/USDT Chart | Source: TradingView
Solana Price Review
Solana, $SOL, is also among the gainers today despite a prolonged decline. The Ichimoku cloud serves as major resistance. The volume oscillator indicates weak buying pressure, making further decline possible. Solana traded at $132.56 as of press time, representing a 5.67% decrease over the last 24 hours.
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