The Bears Are in Total Control of Today’s Session, as Seen from the Decrease in the Global Market Cap

The global market cap is seeing a decrease today, indicating bearish sentiment among the top cryptocurrencies. As of press time, the total cap stands at $3.27T, marking a 2.41% decrease over the last 24 hours, while the trading volume has also dropped by 12% over the same period to stand at $161.52B.

Bitcoin Price Analysis

Bitcoin, $BTC, is seeing a decrease in today’s session, evident from its price movements. An in-depth analysis shows that the Bitcoin price is testing the lower Bollinger Band, indicating bearish momentum. This could suggest oversold conditions and a potential bounce back if buyers step in. The bands are widening, signaling increased volatility.

On the other hand, the ADX is at 38.58, showing a strong trend. Since the trend is currently bearish, it indicates the downward move has strength. Bitcoin is trading at $93,427 as of press time, showing a 2.55% decrease over the last 24 hours.

Bitcoin is trading within a bearish pattern, with the lower Bollinger Band acting as support at $92,884. A candle close below this level could indicate further bearish momentum. From the technical indicators, the ADX shows a strong bearish trend, while the Awesome Oscillator shows bearish momentum building up (red bars).

Relative Strength Index (RSI) is at 31.66, indicating the BTC price is in the oversold zone, which could attract buyers and potentially lead to a bounce back from the lower Bollinger Band. A bullish pattern is forming on lower timeframes, which could see BTC price heading towards the upper Bollinger Band at $94,666.

Further bullish momentum could see Bitcoin testing the Bollinger Band Bollinger Bands, which also acted as resistance on the 1-hour chart at $95,133. A breakout from this level could see BTC price heading towards the 200 Simple Moving Average (SMA) at $96,563.

Ethereum Price Analysis

Ethereum, $ETH, has also failed to post notable gains in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the 50 SMA is below the 100 and 200 SMAs, showing a bearish trend. The price is trading below all moving averages, confirming bearish sentiment.

On the other hand, we see that the Volume Oscillator shows negative volume oscillation (-21.93%) indicates a lack of buying interest, which could further weigh on price. Ethereum is trading at $3,321 as of press time, showing a 1.43% decrease over the last 24 hours.

Ethereum price is also trading within a bearish pattern, with the lower Bollinger Band acting as support at $3,276. A candle close below this level could indicate further bearish momentum. From the technical indicators, the ADX shows a moderate bearish trend, while the Awesome Oscillator shows bearish momentum building up (red bars).

Volume Oscillator shows negative volume oscillation, indicating a lack of buying interest, which could put further pressure on the price. A bearish divergence is also visible on the Relative Strength Index (RSI), indicating a potential sell-off from current levels.

If buyers step in at the lower Bollinger Band, we could see bullish momentum building up, with the upper Bollinger Band at $3,392 acting as resistance on the 1-hour chart. A breakout from this level could see ETH price heading towards the 200 Simple Moving Average (SMA) at $3,436.

XDC Network Price Analysis

XDC Network, $XDC, is among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Kaspa price is below the cloud, indicating a bearish trend. The future cloud is red, reinforcing the bearish outlook.

On the other other hand, we see that the ADX is at 27.28, showing a moderate trend. This indicates bearish strength, but the momentum could weaken soon. XDC Network is trading at $0.09374 as of press time, showing a 3.05% increase over the last 24 hours.

XDC price is also trading within a bearish pattern, with the lower Bollinger Band acting as support at $0.0924. A candle close below this level could indicate further bearish momentum. From the technical indicators, the ADX shows a moderate bearish trend, while the Awesome Oscillator shows bearish momentum building up (red bars).

Volume Oscillator shows positive volume oscillation, indicating buying interest, which could support the price at the lower Bollinger Band. A bullish pattern is forming on lower time