Daily Market Review: BTC, ETH, HNT, GAL, STRD
Today’s market session has seen bears continue dominating today’s session as seen from the drop in the global market cap. The total cap stood at $2.23 as of press time, representing a 4.43% drop over the last 24 hours. The trading volume stood at $77.69B as of press time, representing a 18.77% increase over the last 24 hours.
Bitcoin price Review
Bitcoin (BTC) has fallen prey to the bear activity as evidenced by its price movements in today’s session. Looking at an in-depth analysis of Bitcoin charts, we see that the Bitcoin price recently broke below the lower Bollinger Band, indicating a strong downward move. The MACD is also showing increased bearish momentum as it dips further below the signal line.
The market is currently bearish with the potential for further declines. Traders might look for potential rebound signals or wait for the price to stabilize before re-entering. As of press time, the Bitcoin price stood at $60,744, representing a 0.93% decrease from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) has also fallen prey to the bear activity today as seen from its price movements in today’s session. Looking at an in-depth analysis, we notice that the Ethereum price is below the Supertrend line, signaling a bearish trend. The ADX is around 28.55, suggesting a strong trending market.
Ethereum is exhibiting bearish behavior with strong trend strength. The market’s downward momentum could persist, indicating a good opportunity for short positions or caution for buyers. As of press time, the Ethereum price stood at $2,994, representing a 0.86% decrease from its previous 24-hour price.
Helium Price Review
Helium (HNT) is also facing bear activity in today’s session as the token now corrects from earlier pumps. Looking at an in-depth analysis, we notice that the Alligator lines have recently converged and are beginning to fan out downwards, suggesting a bearish phase is starting. The CCI is in the negative territory which confirms the bearish pressure.
The market could continue to experience downward movement, suggested by the bearish Alligator setup and negative CCI. As of press time, the Helium price stood at $5.24, representing a 11.65% decrease from its previous 24-hour price.
Galxe Price Review
Galxe (GAL) is also facing corrections from its previous pump as seen from its current price action. Looking at an in-depth analysis, we see that the Galxe price is below the Ichimoku Cloud, indicating a bearish trend. The MFI is relatively low at 21.64, suggesting a lack of buying pressure.
The Galxe price is under the Ichimoku Cloud with low MFI values, it indicates weak buying interest and a dominance of sellers, which may lead to further declines. As of press time, the Galxe price stood at $3.47, representing a 1.71% decrease from its previous 24-hour price.
Stride Price Review
Stride (STRD) is also facing corrections in today’s session as seen from its price action as well. Looking at an in-depth analysis, we see that the Stride price is oscillating within the Pitchfork, recently touching the upper boundary before a sharp decline. The AO shows a decrease in momentum as it approaches the zero line.
The Stride price may continue to find resistance at the upper Pitchfork line. The declining AO suggests that momentum is slowing, possibly leading to a period of consolidation or reversal. As of press time, the Stride price stood at $2.28, representing a 16.7% decrease from its previous 24-hour price.
