BTC, ETH, WIF, TRUMP, AAVE Price Analysis: Bears Retain Control Despite Market Cap Increase

The bears are in total control in today's session, as seen from the decrease in the global market cap. The total cap stood at $3.21T as of press time

The cryptocurrency market is experiencing a downturn on Wednesday evening, as evident from the decrease in the global market cap, which stood at $3.21T as of press time, and the decline in trading volume, which dropped by 27.75% over the last 24 hours to stand at $168.32B as of press time.

Bitcoin Price Review

Bitcoin, $BTC, has not posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the middle band (20 SMA) acts as a dynamic resistance near $98,412.68. The upper band at $102,211.74 suggests a possible resistance zone.

On the other hand, the Awesome Oscillator (AO) is in negative territory, suggesting bearish momentum. Bitcoin traded at $97,710 as of press time, representing a 1.13% increase over the last 24 hours.

Ethereum Price Review

Ethereum, $ETH, is among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Alligator indicator suggests that ETH has been in a sideways consolidation with recent downside pressure. The Ethereum price is below the blue moving average, indicating short-term weakness.

On the other hand, we see that the MFI is at 82.25, suggesting overbought conditions, which could lead to a pullback. Ethereum traded at $2,774 as of press time, representing a 1.64% increase over the last 24 hours.

Dogwifhat Price Review

Dogwifhat, $WIF, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the cloud resistance at $0.889 could be a crucial level to reclaim for bullish momentum. The Tenkan-sen (red line) and Kijun-sen (blue line) are indicating downward momentum.

On the other hand, we see that the Volume Oscillator is at -31.52%, suggesting declining buying interest. Dogwifhat traded at $0.8343 as of press time, representing a 10.18% increase over the last 24 hours.

OFFICIAL TRUMP Price Review

OFFICIAL TRUMP, $TRUMP, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that TRUMP has been in a sharp downtrend, with the Supertrend indicator remaining bearish. The Supertrend resistance is currently around $21.74, meaning a close above this level could signal a reversal.

On the other hand, we see that the ADX at 39.32 suggests that the downward trend is losing strength, hinting at a potential consolidation or relief rally. TRUMP traded at $18.77 as of press time, representing a 10.96% increase over the last 24 hours.

AAVE Price Review

Aave, $AAVE, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that AAVE is trading below the 50-SMA ($291.04) and 100-SMA ($313.88), indicating bearish sentiment. The 200-SMA ($312.09) is a key resistance level.

On the other hand, we see that the MACD is starting to curve upward, suggesting potential bullish divergence. Aave traded at $273.76 as of press time, representing a 6.48% increase over the last 24 hours.