Crypto News | Market Analysis for April 29, 2024

Crypto News | Market Analysis for April 29, 2024

Crypto News – In today‘s market session, bears continued to dominate, as indicated by the decline in the global market cap. The total market cap currently stands at $2.33 trillion, marking a 2.17% decrease over the past 24 hours. However, the worldwide trading volume saw a 2.67% increase during the same period, reaching $49.01 billion.

Bitcoin Price Analysis

Bitcoin (BTC) succumbed to the prevailing bearish sentiment in today’s session, evident from its price movements. A detailed analysis reveals consistent touches or breaches of the lower Bollinger Band by the price, signaling increased volatility since mid-April. Moreover, the Average Directional Index (ADX) stands above 25, indicating a strong downtrend. At present, the Bitcoin price sits at $62,514, reflecting a 2% decline from its previous 24-hour price.

Ethereum Price Analysis

Ethereum (ETH) also faced the brunt of the bearish wave in today’s market. Examination of the Alligator indicator suggests a lack of clear trend as indicated by intertwined and primarily flat lines, portraying a range-bound market. Additionally, the MACD line below the signal line, close to zero, signifies weak momentum. Nonetheless, the Bollinger Bands indicate moderate volatility. Ethereum is currently priced at $3,178, marking a 4.3% decrease from its previous 24-hour price.

Helium Price Analysis

Helium (HNT) emerged as one of the few gainers amidst today’s bearish trend. Analysis of Helium’s price charts reveals a recent shift from a bearish to a bullish trend, as depicted by the SuperTrend indicator. Furthermore, the Awesome Oscillator above zero signals bullish momentum. As of now, Helium is priced at $5.1, reflecting a notable 9.9% increase from its previous 24-hour price.

Kaspa Price Analysis

Despite the prevailing downtrend, Kaspa (KAS) managed to register gains in today’s session. However, analysis of Kaspa’s price charts shows mixed signals from the Ichimoku Cloud, suggesting a lack of a strong trend. The Money Flow Index (MFI) indicates no clear momentum, although its southern trajectory hints at growing bearish sentiment. The thickening cloud hints at potential upcoming fluctuations. Kaspa is currently valued at $0.1126, marking a 1.1% increase from its previous 24-hour price.

Internet Computer Price Analysis

Internet Computer (ICP) concluded the day without overcoming the bearish wave, failing to secure gains. Examination of Internet Computer’s price charts reveals a downtrend, with the price trading within the lower half of the Auto Pitchfork, indicating bearish sentiment. While the Volume Oscillator slightly exceeds zero, indicating a small amount of bullish volume, it’s not significant. Internet Computer is currently priced at $13.39, reflecting a 3.2% decrease from its previous 24-hour price.