Bitcoin and Ethereum Correct as the Crypto Market Cap Drops 3.52%

The bears are still in control in today's session, as seen from the decrease in the global market cap. The total cap stood at $2.31T as of press time

Global market cap decreased by 3.52% to stand at $2.31T as of press time, while the trading volume jumped by 0.75% over the same period to stand at $83.05B.

Bitcoin (BTC) price movements show a decrease of 2.7% over the last 24 hours to stand at $64,163 as of press time. However, BTC price movements show a 7-day gain of 1.13%. Our analysis of the Bitcoin technical indicator shows the Supertrend indicator recently switched from red (bearish) to green (bullish), indicating a potential uptrend.

Moreover, the ADX value is 22.43, indicating a weak trend strength. Usually, ADX values above 25 signify stronger trends.

On the other hand, Ethereum (ETH) price movements show a decrease of 7.97% over the last 24 hours to stand at $3,170 as of press time. However, ETH price movements show a 7-day gain of 34.33%. An analysis of the technical indicator shows the price recently touched the lower Bollinger Band, indicating it may be oversold and could reverse.

Furthermore, the Awesome Oscillator is in negative territory, showing bearish momentum. However, the recent histogram bars are becoming smaller, indicating a potential weakening of the bearish momentum.

Pyth Network (PYTH) price movements show an increase of 2.35% over the last 24 hours to stand at $0.3518 as of press time. However, PYTH price movements show a 7-day loss of 1.98%. Our analysis of the technical indicator shows the Alligator indicator’s lines are entwined, suggesting a ranging market with no clear trend.

Moreover, the Woodies CCI values fluctuate around the zero line, confirming the ranging market.

Flow (FLOW) price movements show an increase of 0.09% over the last 24 hours to stand at $0.6284 as of press time. However, FLOW price movements show a 7-day gain of 11.6%. An analysis of the technical indicator shows the Flow price is currently above the Ichimoku Cloud, indicating a bullish trend.

Furthermore, the Woodies CCI is above the zero line, confirming bullish momentum but starting to decrease, signaling a potential pullback.

Tron (TRX) price movements show an increase of 0.97% over the last 24 hours to stand at $0.1354 as of press time. However, TRX price movements show a 7-day loss of 7.2%. Our analysis of the technical indicator shows the Pitchfork indicates a channel where the price moves upwards.