Markets have started on mild bull activity today, with the global market cap recording a 0.04% increase in a day to take the total cap to $1.18T as of press time. The fear and greed index is also currently at 52, a neutral position according to CoinMarketCap.
Bitcoin (BTC) analysis
Bitcoin (BTC) is encountering some bull activity as the asset continues to face resistance at $30K and is now trading at $29.3K after recording a daily rise of 0.06%, as the weekly decrease now stands at 2.18%. However, Bitcoin trade volume has gained 71% during the same period and is presently at $10.4B.
The Bollinger bands, moving close to each other, are now slowly diverging, indicating that the volatility of Bitcoin is increasing. However, the Relative Strength Index (RSI) is moving below its average level while approaching a shift over the line, showing the struggle between bulls and bears for market dominance.
Ethereum analysis
Ethereum (ETH) has also started today slowly, as the asset now sits on mild losses of 0.4% within a day of trading to take it to $1866 as the trading volume dropped by 82% to take it to $4.6B as of press time. ETH’s volatility levels are also low as the Bollinger bands remain relatively close.Â
The RSI indicator is still below its average, indicating a likely bearish trend on Ethereum as the asset’s bulls continue to push for a break over the line. The MACD indicator also moves below in the negative region, as bulls show effort as it attempts a crossover to the green zone.
Litecoin (LTC) Analysis
LTC also has a tremendous session as the asset trades 1.1% below its previous 24-hour price, as the asset’s weekly gain currently stands at 0.9% with a spot price of $93.21. LTC’s trading volume has also seen a 15% increase within the same period to $639M.
LTC’s volatility levels are relatively stable as the asset’s Bollinger bands converge towards each other as the RSI also moves above the average line showing bull effort on the asset. The MACD indicator also moves below its middle line as bulls push for a crossover to the green zone.
Optimism (OP) analysis
OP is having a tremendous session today as the asset trades 6.5% above its previous 24-hour price. The weekly gain currently stands at 7.7%, as the asset’s spot price currently stands at $1.68.
OP’s trading volume has seen a 179% surge within a day of trade to take it to $226M as of press time, while the market cap stood at $1.1B. OP’s volatility levels are relatively low as the Bollinger bands move toward each other. At the same time, the RSI moves close to the overbought region showing bull dominance, while the MACD also moves in the green zone.
Other analysis
Other trending tokens in today’s session are Uniswap (UNI) which has earned 2.2% within the same period to take its price to $6.4964 as of press time, while Dogecoin (DOGE) is also making trends despite failing to post gains as it is now trading at $0.07856 which is 1.6% below its previous 24-hour price.
