Bears are in control of today’s session, as evidenced by the decline in global market capitalization as markets correct from recent pumps. The total limit at the time of publication was $2.89 trillion, representing an increase of 3.88% over the last 24 hours, while trading volume fell 1.4% over the same period to $309.56 billion at the time of publication .
Bitcoin Price Review
Bitcoin, $BTC, is facing a correction in today’s session, as evidenced by its price movements. Upon further analysis, we see that the chart includes simple moving averages (SMA) with periods of 50, 100 and 200 on the hourly timeframe. BTC is currently trading above the 50 SMA (yellow), indicating short-term bullish momentum. The 100 SMA (green) and 200 SMA (blue) are below, indicating overall mid- to long-term bullish momentum.
On the other hand, we see that the volume oscillator looks below average, as evidenced by the negative percentage (-8.64%). A decrease in volume during an uptrend may indicate easing buying pressure. At the time of publication, Bitcoin was trading at $87,528, representing a decline of 2.08% over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also among those correcting in today’s session, as evidenced by its price movements. Looking at the in-depth analysis, we see that the chart uses Bollinger Bands with a 20-period SMA to show volatility and potential overbought/oversold conditions. ETH recently touched the upper band around 3341, indicating overbought conditions, which led to the recent pullback.
On the other hand, we see that the Average Directional Index (ADX) is at 27.26, indicating a moderately strong trend. However, the ADX line is moving down, indicating that the current uptrend may be losing momentum. At the time of publication, Ethereum was trading at $3,161, representing a decline of 6.26% over the past 24 hours.
Peanut squirrel price review
Squirrel Peanut, $PNUT, is a winner in today’s session, as evidenced by its price movements. Looking at the in-depth analysis, we see that Supertrend is showing a buy signal with a green area on the 1-hour chart, indicating a bullish trend. PNUT has risen significantly above recent resistance levels, showing strong upward momentum.
On the other hand, we see the Volume Oscillator sitting at a very low level of 0.26%, which could indicate that the recent surge is lacking strong support from volume. Low volume could lead to a quick reversal if there is not enough buying interest. At the time of publication, Peanut the Squirrel was trading at $0.9364, representing a 93.27% increase in the last 24 hours.
Ripple Price Review
Ripple, $XRP, is also a winner in today’s session, as evidenced by its price movements. Looking at the in-depth analysis, we see that the price is trading near the Kumo (cloud) and the green Tenkan-sen line is above the red Kijun-sen line, indicating a potential bullish crossover. However, the recent pullback into the cloud area suggests some indecision and potential consolidation.
On the other hand, we see that ADX is at 34.52, showing a relatively strong trend. A falling ADX suggests that the strength of the trend may be weakening. At the time of publication, Ripple was trading at $0.6586, representing an increase of 6.68% over the past 24 hours.
Stellar Price Review
Stellar, $XLM, was also a winner in today’s session, as evidenced by its price movements. Looking at the in-depth analysis, we see that the Alligator lines (jaws, teeth and lips) are converging after recent expansion, indicating a potential slowdown in the uptrend and a possible consolidation or reversal phase.
On the other hand, we see the Money Flow Index (MFI) sitting at 59.32, which is close to the overbought threshold of 80. This level indicates that buying pressure is easing and a pullback could be on the horizon if the index continues to decline . . At the time of publication, Stellar was trading at $0.1256, representing an increase of 3.61% over the past 24 hours.
