Markets have kicked off the week, with the global market cap recording a 0.5% increase daily to take the total cap to $1.19T as of press time. The fear and greed index is also at 56, showing a neutral market state.
Bitcoin analysis
Bitcoin (BTC) has kicked off with some bear activity as the asset struggles for a break back above $30K and is now trading at $29.7K after recording a daily loss of 0.5%, as the weekly decrease now stands at 1.7%. However, Bitcoin trade volume has risen by 22% during the same period and is presently at $10B.
The Bollinger bands are still moving close to each other, indicating that the volatility of Bitcoin is still low. The Relative Strength Index (RSI) is moving below its average level as bears kick off the week on the gas.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on mild gains of 0.25% within a day of trading to take it to $1870 as the trading volume rose by 0.48% to take it to $4.5B as of press time. ETH’s volatility levels are also steady as the Bollinger bands remain relatively close.Â
The RSI indicator is still below its average as bears on Ethereum continue to dominate. The MACD indicator also moves below in the negative region, again showing the effort by bears to dominate markets.
Ripple (XRP) analysis
XRP is still making trends despite the asset trading 1.9% below its previous 24-hour price with a standing price of $0.726, while the weekly drop now stands at 3.5%. XRP’s trading volume has seen a 27% increase within the same period as it now stands at $1.3B.
Ripple’s volatility levels are still high as the Bollinger bands continue to diverge away from each other, indicating increasing volatility. The RSI has now dropped below its average line as bears push to reclaim market dominance, while the MACD indicator also approaches a shift to the negative region.
Tron (TRX) Analysis
Tron is also making trends today despite facing a decrease of 2.8% within a day of trade to take its price to $0.08163 as the trading volume dropped by 44%. TRX’s volatility levels are also stable as the Bollinger bands maintain a relatively close distance.
The RSI is now moving below the average line, indicating a likely bearish trend on Tron as bears push for dominance. At the same time, the MACD indicator also approaches a shift to the negative side, again showing bear efforts on TRX.
Other analysis
XDC network (XDC) is also trending today despite registering a 3.5% loss within a day of trade to take its price to $0.05022. In comparison, Hamsters (HAMS) also loses a massive 66% valuation within a day of trade as bears dominate today’s session. StormX (STMX) is also trending with losses of 13% to take its price to $0.006919.
