Markets have started today’s session with notable bull activity, with the global market cap recording a 1.2% increase daily to take the total cap to $1.19T as of press time. The fear and greed index is also currently at 52, indicating a neutral position, according to CoinMarketCap.
Bitcoin analysis
Bitcoin (BTC) is still encountering some bull activity as the asset struggles for a break back above $30K and is now trading at $29.4K after recording a daily gain of 0.66%, as the weekly decrease now stands at 1.9%. Bitcoin trade volume rose by 21% during the same period and is presently at $13B.
The Bollinger bands are still moving close to each other, indicating that the volatility of Bitcoin is currently low but is, however on the verge of a diverge, indicating an increase in volatility. However, the Relative Strength Index (RSI) is moving below its average level, showing the struggle between bulls and bears for market dominance.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on mild gains of 0.9% within a day of trading to take it to $1870 as the trading volume also rose by 28% to take it to $5.6B as of press time. ETH’s volatility levels are also low as the Bollinger bands remain relatively close.Â
The RSI indicator is still below its average, indicating a likely bearish trend on Ethereum as the asset’s bears continue to push for market dominance. The MACD indicator also moves below in the negative region, showing the effort by bears to dominate markets.
Solana (SOL) analysis
Solana also has a nice day as the asset trades 6% above its previous 24-hour price and trades at $24.9 as of press time. Despite the gain, SOL is still 4.5% below its last 24-hour price. Solana’s trading volume has also increased by 99% as activity on the asset increases.
Solana’s volatility levels are also high, as the Bollinger bands now move at a far distance from each other. The RSI is also moving below its average as bulls push for a sift over it. The MACD indicator, currently in the red zone, is approaching a shift over the average line as bulls push for dominance.
Compound (COMP) analysis
Compound has also started today’s session strongly as the asset now trades at $71.39, 4% above its previous 24-hour price. Compound’s trading volume has, however, dropped by 21% within the same period.
Compounds volatility levels are high as the Bollinger bands move at a high distance from each other. The RSI indicator is also below its average line as bulls push for a cross over the line while the MACD also looks to shift back to the green zone.
Other analysis
Another notable gainer in today’s session is Bounce Token (AUCTION) which has increased 126% within 24 hours of trading as it now trades at $13.6, while Bitgert (BRISE) also moves 21% above its previous 24-hour price. Worldcoin (WLD) is selling 7% below its last 24-hour price after hitting gains in te recent past amid its launch.
