After yesterday’s rally in reaction to Ripple’s victory over security allegations, markets have kicked off today’s session with corrections. The crypto global market cap has fallen by 2.6% to 1.22T as of press time as bears try to kick in.
Bitcoin (BTC) analysis
Bitcoin has sluggishly kicked off today’s session, posting a drop of 2.9% within 24 hours of trade as the asset now drops below the $31K resistance level to currently trade at $30.3K as of press time after yesterday’s rally. BTC’s trading volume has also seen a 31% drop as bulls’ activity reduces within the same period.
Bitcoin’s volatility levels are now stable as the Bollinger bands diverge, indicating stable volatility. The RSI indicator is, however, moved back below the average line as bears take over..
Ethereum (ETH) analysis
Ethereum is also having a correction session as the asset trades 3% below its previous 24-hour price to take its price back above $1.9K as the asset now trades at $1939. ETH’s trading volume had dropped over 31% as of press time.
Ethereum’s volatility levels are still increasing amid the continuous activity as the Bollinger bands diverge away from each other, indicating increasing volatility. The RSI moves above the average line as ETH bulls push for domination.
Ripple (XRP) analysis
Ripple, still dominating today’s session, has made minor corrections ahead of its recent rally sparked by its victory over the security allegations, having dropped 8% in price valuation within 24 hours to now trade at $0.79 as it now edges in on the $0.8 mark. Ripple’s trading volume has seen a massive surge of 1688% as of press time, which currently stands at 12.8 B.
Ripple’s volatility levels are still high amid the activity as the Bollinger bands diverge entirely from each other. The RSI indicator is still hovering close to the overbought region as the MACD indicator also moves high on the positive region indicating tremendous bull dominance on Ripple.
Solana (SOL) analysis
Solana faces corrections in today’s session as the asset records a 0.6% decrease within 24 hours of trading to take its price to $28.60 as of press time. SOL’s trading volume has also dropped 37% within the same period as crypto activity decreases today compared to yesterday.
SOL’s volatility levels are also increasing as the Bollinger bands move away from each other. The RSI is above its average line in the overbought region as bulls dominate for the second day, with the MACD moving in the positive region.
Other analysis
Injective (INJ) is among today’s gainers. The asset trades 4.4% above its previous 24-hour price to reach $9.25 as of press time. INJ’s weekly gain currently stood at 16%. Synthetic (SNX) is also gaining significantly, trading at $2.6, representing a 15% increase in valuation within 24 hours.
