Today’s market session has picked off with a recovery mood as the global market cap recorded an increase of 3.1% as the markets claw back gains from yesterday’s dip that was greatly attributed to the SEC’s recent actions on Binance and Coinbase that caused some investor panic and FUD.
Bitcoin (BTC), is recovering pretty well recording a 4% gain within 24 hours of trading to take its price to $26,852 as of press time, as BTC bulls pus for a recovery from the 1% weekly drop. BTC has a current market cap of $520,790,563,592 as the trading volume also stands at $23,872,206,603.
Bitcoin’s volatility levels are also rather stable as the Bollinger bands maintain a close distance to each other while the RSI moves above the average line after a long shift below as of yesterday’s market, showing the effort put in place by bulls to grasp the markets back from the bears.
Moving at 47.5, the RSI is indicating a bullish trend, as bulls push for the overbought region. The MACD indicator is also moving close to its average line, showing the great struggle between bulls and bears as the asset pushes for a comeback from yesterday’s shift. Bitcoin is now currently ranking as the top most trending asset on CoinMarketCap.
Altcoin analysis
Ethereum (ETH) has also had a good recovery session as the asset now boasts a $1,877 price ahead of a 3.4% daily gain as the weekly gain also stands at 0.5%. ETH’s market cap also currently stands at $225,712,519,680 as the trading volume stands at $9,348,973,698, representing a 7% increase in 24 hours.
Other altcoins are also having a good session with Ripple (XRP) and Dogecoin (DOGE) recording gains of 4% within the same period as Cardano (ADA) and Polygon (MATIC) struggle with losses of 2% within the same period. Tron (TRX) is also struggling as the asset’s price dropped by 1.4% within a day of trading. Litecoin (LTC) has however recovered recording a 3% gain within the same period.
Pepe is again making trends as the asset rallied 14% within a day of trading to take the meme coin’s price to $0.000001159 ahead of a 51% surge in its trading volume to take the total volume to $289M as of press time.
Other notable gainers in today’s session are Stacks (STX) which has gained 18% within 24 hours to take its price to $0.6413 as of writing as the asset also boasts a weekly gain of 5.3%.
