The bears are in total control

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 $2.76T

The bears are in total control in today’s session, as seen from the decrease in the global market cap. The total cap dropped by 0.31% over the last 24 hours to reach $2.76T as of press time, while the trading volume also dropped by 9.2% over the same period to stand at $87.22B as of press time.

Among the tokens that are in the green are Ethereum which rose slightly to $1,892, Hyperliquid which gained over 8% to trade at $13.70 and Sonic which shot up over 14% to trade at $0.5306.

However, some of the tokens that are in the red include Bitcoin which dropped slightly to trade at $82,756.

Bitcoin, $BTC, is among the tokens that failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see price movement within Bollinger Bands, with the middle band acting as a dynamic support and resistance. The price is currently close to the middle band, suggesting a phase of consolidation.

The MACD histogram shows decreasing bearish momentum, with the MACD line attempting to cross above the signal line, which could be an early indication of a bullish reversal. Bitcoin traded at $82,756 as of press time, representing a 0.77% decrease over the last 24 hours.

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 Ethereum is displaying a downtrend within the Ichimoku Cloud, with the price trading below the cloud, signaling bearish momentum. The lagging span remains below the price, reinforcing the bearish sentiment.

However, the Awesome Oscillator (AO) histogram is showing weakening bearish momentum, which could indicate a potential shift in trend. Ethereum traded at $1,892 as of press time, representing a 0.07% increase over the last 24 hours.

Sonic, $S, is among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the chart is recovering from a downtrend, with price attempting to reclaim key moving averages. The 50, 100, and 200 SMAs are converging, indicating a potential trend shift.

A successful break above the 100-SMA could drive further gains toward the 200-SMA. The Money Flow Index (MFI) is approaching overbought territory, suggesting a potential slowdown or correction in the near term. Sonic traded at $0.5306 as of press time, representing a 14.63% increase over the last 24 hours.

Hyperliquid, $HYPE, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the chart remains in a downtrend, as price struggles to gain upward momentum. The Alligator indicator shows moving averages fanned out in a bearish direction, suggesting the trend is still downward. However, the price is showing early signs of a potential recovery.

The ADX reading of 37.24 indicates a strong trend, though it does not confirm a direction. If the ADX begins to decline, it could signal weakening bearish pressure and a possible trend reversal. Hyperliquid traded at $13.70 as of press time, representing an 8.72% increase over the last 24 hours.

OFFICIAL TRUMP, $TRUMP, is also among the top gainers in today’s session as also evidenced by its price movements. Looking at an in-depth analysis, we see that the token is experiencing a prolonged downtrend, with the Supertrend indicator acting as resistance. The price has attempted to break above the resistance zone but has yet to sustain a rally.

Volume oscillators show low buying pressure, indicating weak bullish momentum. A decisive breakout above the Supertrend resistance could shift sentiment, while failure to hold above support may continue the downward trajectory. OFFICIAL TRUMP traded at $11.55 as of press time, representing a 6.60% increase over the last 24 hours.