Today’s session has kicked off with some bear effect as the global market cap recorded a 0.04% decrease within a day, as the market cap now stands at $1.05T. The fear and greed index has dropped further to 35 as fear continues.
Bitcoin (BTC) analysis
Bitcoin (BTC) is now facing bear activity as the asset trades at $26K after recording a daily decrease of 0.24% and a weekly decrease of 11.4%. Bitcoin’s trade volume has dropped by 7% during the same period and is presently at $9.3B.
The Bollinger bands are still diverging, indicating that the volatility of Bitcoin is still high as the Relative Strength Index (RSI) still moves below its average level in the oversold region, as bear effects still linger.
Ethereum analysis
Ethereum (ETH) is seeing some bull activity as the asset now sits on gains of 0.4% within a day of trading, taking it to $1671 as the trading volume dropped by 12% to now sit at $4B as of press time. ETH’s volatility levels are still high as the Bollinger bands maintain a divergence.Â
The RSI indicator is still below its average line in the oversold region, again showing bear effects on the market as bulls push for a recovery as the MACD indicator also moves in the red zone.
Solana (SOL) analysis
SOL is, however, having a bearish session as the asset posts a decrease of 1.2% in valuation within a day of trade. The token now holds a spot price of $21.55 as the trading volume recorded an 8% decrease within the same period. It now stands at $215M.
However, SOL’s volatility levels are stable as the Bollinger bands maintain a relatively close distance from each other as the RSI indicator moves below its average line, showing the bear dominance on Solana as the MACD indicator also moves in the red zone.
Ripple (XRP) analysis
Ripple is also having a bullish session as the asset sits on minor gains of 0.3% within 24 hours of trade to take XRP’s price to $0.52 as of press time, while the trading volume saw a 52% spike within the same period.
XRP’s volatility levels are also high as the asset’s Bollinger bands maintain a high distance from each other. At the same time, the RSI moves below its average line XRP as bulls push for a comeback, while the MACD moves below in the red zone ahead of the recent dip.
Injective (INJ) analysis
INJ is having a slow session today as the asset now trades 3% below its previous 24-hour price, as the asset now holds a spot price of $7.67, with the trading volume dropping by 21% to take it to $32M.
INJ’s volatility levels are stable as the Bollinger bands maintain a close distance to each other while the RSI moves above its average line showing the bull effect on the token as the MACD also moves in the green zone.
