Markets have started today’s session with notable bull activity, with the global market cap recording a 1.6% increase daily to take the total cap to $1.18T as of press time. The fear and greed index is also at 53, indicating a neutral position, according to CoinMarketCap.
Bitcoin analysis
Bitcoin (BTC) is still encountering some bull activity as the asset struggles for a break back above $30K and is now trading at $29.6K after recording a daily gain of 2.4%, as the weekly increase now stands at 1.3%. Bitcoin trade volume rose by 49% during the same period and is presently at $19B.
The Bollinger bands are now converging toward each other, indicating that the volatility of Bitcoin is currently low. The Relative Strength Index (RSI) is moving above its average level, showing the dominance of bulls as the MACD indicator also now approaches a shift to the positive region.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on gains of 1.5% within a day of trading to take it to $1859, as the trading volume also rose by 21% to take it to $6.8B as of press time. ETH’s volatility levels are also low as the Bollinger bands diverge toward each other.
The RSI indicator is still below its average, indicating a likely bearish trend on Ethereum as the asset’s bears continue to push for market dominance. The MACD indicator also moves below in the negative region, showing the effort by bears to dominate markets as bulls push for a shift to the positive region.
FTT token (FTT) analysis
FTT is having a slow session, and the asset now trades 4.8% below its previous 24-hour price as it currently holds a spot price of $1.3605, as the asset now makes trends ahead of FTX’s restructuring plan. FTT’s trading volume dropped by 39% within the same period.
However, FTT’s volatility levels are low as the Bollinger bands move close to each other, indicating stable volatility levels. The RSI is moving below its average line showing bear dominance on FTT, as the MACD also moves in the red zone, still showing bear dominance.
Trust Wallet Token (TWT)
TWT is still making trends in today’s session as the asset trades 5.2% above its previous 24-hour price. The asset trades at $0.9734 as of press time, and the asset’s trading volume now stands at $42M.
TWT’s volatility levels are also increasing as the Bollinger bands diverge from each other indicating increasing volatility levels as the RSI indicator moves close to the overbought region, again showing bull dominance as the MACD also moves in the green zone.
Other analysis
Alpaca Finance (ALPACA) is also making trends despite making losses of 13% from its previous 24-hour price valuation as the asset trades at $0.1729, while Kaspa (KAS) is making trends with gains of 9% within a day’s trade to take its pot price to $0.04181. BNB also makes trends with losses of 0.4% within a day’s trade as the asset now trades at $244.
