Today's session on the cryptocurrency market shows significant bearish influence, as evidenced by a decrease in the global market cap. This article reviews major cryptocurrencies, including Bitcoin, Ethereum, Fantom, Celestia, and Ethena.
Bitcoin Price Review
Bitcoin has experienced a notable drop in today's session. An analysis shows BTC testing the lower Bollinger Band, indicating strong bearish pressure. The ADX is at 35.38, signifying a strong trend. Bitcoin traded at $95,417, representing a 6.28% decrease over the last 24 hours.
Ethereum Price Analysis
Ethereum is also showing a massive price drop. Analysis reveals that ETH is trading below the Alligator lines, suggesting a continuation of the downtrend. The AO shows bearish momentum with deepening red bars. Ethereum traded at $3,338, representing a 9.1% decrease over the past day.
Status of Other Cryptocurrencies: Fantom, Celestia, and Ethena
Fantom, Celestia, and Ethena are among the top losers in today's session.
- Fantom is trading significantly below its SMAs, confirming a bearish outlook. However, the MFI at 18.32 suggests oversold conditions. FTM traded at $0.6383, representing a 19.48% decrease over the last 24 hours.
- Celestia highlights a downtrend, trading below the EMA 50 and EMA 100. RSI at 21.54 indicates oversold territory. TIA traded at $0.46, representing a 15.87% decrease over the past day.
- Ethena failed to post gains, breaking below Supertrend support. ENA traded at $0.9644, representing a 16.64% decrease over the last 24 hours.
The cryptocurrency market today is experiencing significant bearish pressure, leading to substantial price decreases in major cryptocurrencies. The analysis indicates risks for potential bounce points, though continuation of trends may alter the current state.
