Markets have started on bear dominance, with the global market cap recording a 1.2% decrease in a day to take the total cap to $1.16T as of press time. The fear and greed index is also at 49, a neutral position as activity, as the index drops towards the red zone, indicating reducing fear and greed.
Bitcoin analysis
Bitcoin (BTC) has encountered bear activity and is still facing huge resistance at $30K, trading at $29.1K after recording a daily drop of 0.56% and a weekly decrease of 1.9%. However, Bitcoin’s trade volume has risen by 9.3% during the same period and is presently at $13.4B.
The Bollinger bands are still converging, indicating that the volatility of Bitcoin is decreasing. The Relative Strength Index (RSI) is now below its average level, showing the effort by bears for market dominance as the MACD also now approaches a shift to the negative region.
Ethereum (ETH) analysis
Ethereum (ETH) has also started today slowly, as the asset now sits on losses of 0.76% within a day of trading to take it to $1825 as the trading volume rose by 30% to take it to $4.7B as of press time. ETH’s volatility levels are also slowly decreasing as the Bollinger bands maintain a relatively close distance.
The RSI indicator is, however, now below its average as the asset’s bears push for dominance as the MACD indicator also moves in the red zone showing bear dominance.
Shiba Inu (SHIB) analysis
Shiba Inu is also having a slow session as the asset trades 2.6% below its previous 24-hour price, as the trading volume is 40% above its previous 24-hour one.
SHIB is also having high volatility levels as the Bollinger bands maintain a high distance from each other. The RSI moves below its average line as bears dominate the meme coin, as the MACd also approaches a shift below the red zone.
Ripple (XRP) analysis
Ripple is also having a bearish session as the asset sits on losses of 4% within 24 hours of trade to take XRP’s price to $0.6008 as of press time, while the trading volume saw a 70% spike within the same period as activity on markets increased.
XRP’s volatility levels are also rather stable as the asset’s Bollinger bands maintain a rather stable distance from each other. At the same time, the RSI moves below its average line XRP as bears push for dominance, while the MACD moves below in the red zone as it approaches a shift to the green zone.
Other analysis
Hedera (HBAR), also making trends, is having quite a bearish session as the asset sits on losses of 14% within a day of trade to take its price to $0.06233 after its recent rally. In comparison, CyberConnect (CYBER) defies today’s bear trend to post massive gains of 170% within day of trade to take its price to $4.87 within a day of trade.
