Markets have started slowly, with the global market cap recording a 0.04% increase in a day to take the total cap to $1.21T as of press time. The fear and greed index is also currently at 57, a neutral position, according to CoinMarketCap, as it gets better and better.
Bitcoin analysis
Bitcoin (BTC) is still encountering resistance above $31K and is now trading at $30.2K after recording a mild daily drop of 0.01% and a weekly decrease of 0.5%. However, Bitcoin trade volume has climbed by 2.5% during the same period and is presently at $8.2B.
As the Bollinger bands maintain a close distance from each other, it indicates that the volatility of Bitcoin is now low. 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 0.02% within a day of trading to take it to $1930, as the trading volume dropped by 3% to take it to $4.2B as of press time. ETH’s volatility levels are also slowly increasing again as the Bollinger bands now diverge slightly.
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 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 $0.751 in valuation, representing a 4% increase in 24 hours as the trading volume also rose by 59% within the same period to reach $3.8B.
Ripple’s volatility levels are high as the Bollinger bands now diverge away from each other, indicating creeping back volatility on XRP. The RSI is also moving above its average line, in the overbought region, indicating the effort by the Bulls to dominate today’s session.
1inch analysis
1inch Network (1INCH) is having a tremendous bull session as the asset sits on gains of 46%, and the 7-day gain also stands at 88% as of press time. 1inch’s trading volume has also seen a 354% increase within the same period as the trading volume now stands at $494M.
1inch’s volatility levels are also increasing as the Bollinger bands now diverge away from each other as the RSI is above its average line in the overbought region as the MACD indicator is also moving high in the positive region.
Other analysis
Other notables in today’s session that have made it into the trending list as the gains are BEN which currently sits at 0.13% as it now trades at $0.00000006414 Kaspa (KAS), which also trades 9% above its previous 24-hour price to take its price to 9.5% as it now trades at $0.03204.
