Markets have started on bear activity, with the global market cap recording a 0.12% 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 55, indicating a neutral position, according to CoinMarketCap.
Bitcoin analysis
Bitcoin (BTC) has encountered some bear activity and has now gone below $30K and is now trading at $29.8K after recording a daily drop of 1% and a weekly decrease of 4.8%. However, Bitcoin trade volume has climbed by 28% during the same period and is presently at $14.8B.
The Bollinger bands are still moving close to each other, indicating that the volatility of Bitcoin is currently low. The Relative Strength Index (RSI) is moving below its average level, showing the effort by bears for market dominance.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on losses of 0.7% within a day of trading to take it to $1891 as the trading volume jumped by 14% to take it to $7.2B as of press time. ETH’s volatility levels are also low as the Bollinger bands remain relatively close.
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.
Polygon (MATIC) analysis
Polygon is also having a bearish session today as the asset sits on a 0.08% loss in valuation from its previous 24 hours as the weekly drop currently stands at 10%, as MATIC now trades at $0.7649 as the trading volume surged by 22% to take it to $385M.
MATIC’s volatility levels are also low as the Bollinger bands maintain a relatively close distance from each other. At the same time, the RSI moves below its average line as bears dominate the network, with the MACD indicator also moving in the positive region.
Chainlink (LINK) analysis
LINK is having a tremendous bull session today as the asset rides on 24-hour gains of 15% to take its price to $8.13 as of press time, with the weekly gain currently standing at 12% as of press time while the trading volume recorded a 556% surge within a day of trading to take it to $1.5B as of press time.
LINK’s volatility levels are on the verge of a surge as the Bollinger bands diverge from each other while the RSI hovers above its average line close to the overbought region as the MACD indicator moves on the positive side.
Other analysis
Other asset-making trends in today’s market session are XRP 2.0, which has seen a 2439% surge within 24 hours, making it today’s top gainer as Stellar (XLM) trends with a valuation loss of 1.77% as of press time, whereas HarryPotterObamaSonic10Inu (ERC-20) (BITCOIN) is also making trends with a 6% loss in valuation within a day of trading.
