Markets have started slowly, with the global market cap recording a 1.23% decrease in a day to take the total cap to $1.2T as of press time. The fear and greed index is also currently at 57, a neutral position, according to CoinMarketCap, as it gets better and better.
Bitcoin analysis
Bitcoin (BTC) has encountered some bear activity and has now gone below $30K and is now trading at $29.9K after recording a daily drop of 0.99% and a weekly decrease of 2.1%. However, Bitcoin trade volume has climbed by 66% during the same period and is presently at $15.8B.
The Bollinger bands are still converging, indicating that the volatility of Bitcoin is decreasing. The Relative Strength Index (RSI) is back above its average level, showing the effort by bulls for market dominance.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on losses of 1.7% within a day of trading to take it to $1898 as the trading volume jumped by 57% to take it to $6.7B as of press time. ETH’s volatility levels are also slowly decreasing as the Bollinger bands maintain a relatively close distance.
The RSI indicator, however, has shifted below its average line, indicating a likely bearish trend on Ethereum as the asset’s bears push for market dominance. The MACD indicator also moves below in the negative region, showing the effort by bears to dominate markets.
1inch analysis
1inch Network (1INCH) which had a tremendous bull session yesterday, is having a slow day today as the asset sits on losses of 28% within a day’s trade. 1inch’s trading volume has also seen a 26% increase within the same period, and the trading volume now stands at $574M.
1inch’s volatility levels are still increasing as the Bollinger bands continue to diverge away from each other as the RSI is above its average line while the MACD indicator has also shifted to the positive region.
Kaspa (KAS) analysis
KAS, on coinmarketcap’s trending list, has seen mild bullish activity as the asset sits on gains of 0.15% within a day of trading o take its price to $0.0321 as of press time while the seven-day gain currently stands at 31% ahead of recent past bullish sessions.
KAS’s volatility levels are however still high as the Bollinger bands maintain a relatively high distance away from each other as the RSI moves above its average line as bulls push for the overbought region while the MACD also shifts to the positive side again showing bull dominance.
Other analysis
Other assets making trends in today’s session are Terra Classic USD (Wormhole) USTC which has seen a 4% drop within a day of trade to take it to $0.0155 as of press time while STEPN (GMT) has also seen a 0.8% gain within a day of trade as it trades at $0.2495. WazirX (WRX), ranked at #348 on CoinMarketCap, has also seen a 21% increase within a day of trading to make its price $0.1439 as of press time.
