Today’s market session kicked off characterized by bearish signals, as the global market cap fell by 1.18% within a day of trading to take it to 1.12T. Bitcoin (BTC), the crypto king is facing much resistance at the $27K level. Trading at $26.8K, bitcoin was sitting on a 1.3% drop in price valuation within a day of trading, as the weekly valuation increase stands at 2% as of press time. Bitcoin’s trading volume has also seen a 0.4% drop within the same period, as the market cap dropped by 1.3% within the same period.
Bitcoin’s volatility levels are also at a steady level as the Bollinger bands now move closer to each other. The relative strength indicator is also moving below its average line, signaling a likely bearish trend on BTC. The MACD indicator is also currently on the negative side, signaling a likely bearish trend.
Altcoin analysis
Ethereum (ETH), the altcoin king, is also facing much turbulence as the asset recorded a drop of close to 1% in valuation within 24 hours of trading. Trading at $1806, ETH was standing on a weekly gain of 3.1% as the trading volume dropped by 9.6% within the same period.
Ripple (XRP) is however dominating today’s session despite the bearish trend as the asset boasts a 3.7% gain within a day of trading. Trading at $0.4654, XRP is currently on a weekly gain in valuation of 7.8%. The asset’s trading volume has also surged by 30% within the same period as the market cap also gained 3.6% within the same period.
Other altcoins are rather on a rough session today as BNB, Cardano (ADA), Dogecoin (DOGE), Polygon (MATIC), and Solana (SOL) all made losses in the valuation of close to 2% within a day of trading.
Render Token (RNDR) continues to dominate as the asset registers a 5% gain within a day of trading as its weekly gain stands at 42%. RNDR’s trading volume has also surged by 18% within the same period as the market cap also gained 5% as of press time.
Mask Network (MASK), is another notable gainer in today’s session as the asset boasts a 9% increase in valuation within a day of trading as the weekly gain stands at 32%. MASK’s trading volume has also surged by 66% within the same period according to CoinMarketCap data.
Today’s trending coin also seems to be on a rough session with PEPE, SUI, and KEK (KEKE), CoinMarketCap’s top trending coins, all register losses in price valuation within a day of trading.Â
