BTC, ETH, LDO, JASMY, and LINK Plunge Massively in Today's Session: Market Analysis

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 $1.89T as of press time

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 $1.89T as of press time, representing a 12.59% decrease over the last 24 hours, while the trading volume jumped by 75% over the same period to stand at $117.56B as of press time.

Bitcoin Price Analysis

Bitcoin, $BTC, has plunged massively in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bollinger Bands are indicating an oversold condition. The Bitcoin price is trading significantly below the lower Bollinger Band.

On the other hand, we see that the Bitcoin price is trading well below the 50 SMA, indicating a strong bearish trend. The 50 SMA is sloping downward, reinforcing the bearish sentiment.

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4-hour BTC/USDT Chart | Source: TradingView

Ethereum Price Analysis

Ethereum, $ETH, is among the top losers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Alligator’s lines (jaw, teeth, and lips) are diverging, suggesting a strong bearish trend. The Ethereum price is trading below all the Alligator lines, confirming the bearish momentum.

On the other hand, we see that the Volume Oscillator shows a spike in volume, indicating strong selling pressure.

4-hour ETH/USDT Chart | Source: TradingView

Lido DAO Price Analysis

Lido DAO, $LDO, is among the top loosers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that The Supertrend indicator is in the red, indicating a sell signal. The Lido DAO price is significantly below the Supertrend line, suggesting strong bearish pressure.

On the other hand, the Woodies CCI (Commodity Channel Index) values are deeply negative, indicating the asset is oversold. The strong negative CCI suggests that the downtrend may continue, but a potential reversal could be on the horizon due to oversold conditions.

4-hour LDO/USDT Chart | Source: TradingView

JasmyCoin Price Analysis

JasmyCoin, $JASMY, is also among the top losers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the JasmyCoin price is trading below the Ichimoku Cloud, indicating a bearish trend. The Leading Span A and Leading Span B are both above the price, suggesting strong resistance above.

On the other hand, we see that the Awesome Oscillator (AO) is negative, confirming bearish momentum. The histogram bars are increasing in the negative direction, indicating strengthening bearish momentum.

4-hour JASMY/USDT Chart | Source: TradingView

Chainlink Price Analysis

Chainlink, $LINK, is also among the top losers as seen from its price movements. Looking at an in-depth analysis, we see that the Chainlink price is below the median line and lower boundary of the pitchfork, indicating a strong bearish trend. The Chainlink price is far below the lowest support line of the pitchfork, suggesting extreme bearish pressure.

On the other hand, we see that the ADX (Average Directional Index) value is 54.61, indicating a strong trend. Given the downtrend in price, this suggests strong bearish momentum.

4-hour LINK/USDT Chart | Source: TradingView

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