Markets have started slowly, with the global market cap recording a 1.16% increase in a day to take the total cap to $1.19T as of press time. The fear and greed index is also currently at 56, a neutral position, according to CoinMarketCap, as it gets better and better.
Bitcoin analysis
Bitcoin (BTC) has encountered resistance above $31K and is now trading at $30.5K after recording a daily gain of 0.72% and a weekly decrease of 1.4%. However, Bitcoin trade volume has climbed by 49% during the same period and is presently at $15,303,460,981.
As the Bollinger bands converge, it indicates that the volatility of Bitcoin is decreasing. The Relative Strength Index (RSI) is now below its average level, meaning that bears are likely to continue their campaign for market supremacy.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on gains of 0.05% within a day of trading to take it to $1873 as the trading volume jumped by 25% to take it to $6.2B as of press time. ETH’s volatility levels are also slowly decreasing as the Bollinger bands maintain a relatively close distance.Â
The RSI indicator is, however, moving above its average line, indicating a likely bullish trend on Ethereum as the asset’s bulls push for market dominance. The MACD indicator also moves above in the positive region, showing the effort by bulls to dominate markets.
Ripple (XRP) analysis
Ripple is relatively slow but bullish today as the asset now stands at $0.4739 in valuation, representing a 0.3% increase in 24 hours as the trading volume also rose by 8.3% within the same period to reach $766M.
However, Ripple’s volatility levels are low as the Bollinger bands now converge towards each other, indicating reduced volatility on XRP. The RSI is also moving above its average line, indicating the effort by the Bulls to dominate today’s session.
Compound (COMP) analysis
Compound is also having a rather fruitful day today as the asset now sits on gains of 11% within a day of trading as it now stands at $66.17 as it is now ranks at #76 on coinmarketcap. The asset’s trading volume is currently at 172.84M as of press time.
COMP’s volatilitylevels are however rising as the Bollinger bands now diverge away from each other, indicating increasing volatility as the RSI approaches a cross over the average line as bulls push for domination. The MACD is also moving in the positive region indicating a bullish trend on COMP.
BNB analysis
BNB has also made minimal strides today as the asset sits on gains of 0.7% ahead of what has been a slow day to take its price to $247 with the asset ranking. BNB’s trading volume has also seen a 7% drop within a day of trading.
BNB’s volatility levels are however low as the asset’s Bollinger bands now move closer to each other while the RSI is high above the average line as well as the MACD indicating bull dominance on the network.
Other analysis
MIM has had a really bearish session today as the asset trades 5% below its previous 24-hour price to take its price to $1.3919 with a trading volume of 2.24M. Metal Blockchain is also doing well as the asset trades 3.6% up from its previous 24-hour price as the trading volume is down 41% from its previous 24-hour price. Cyberpunk City (CYBER) is also down 0.3% from its previous 24-hour price as the trading volume is also 50% down.
