Markets have started slowly, with the global market cap recording a 0.67% decrease in a day to take the total cap to $1.21T as of press time. The fear and greed index is also currently at 63, according to CoinMarketCap, as it gets better and better.
Bitcoin analysis
Bitcoin (BTC) is now trading at $30.8K, down 0.66% daily, with a weekly gain of 1.3%. Resistance around $31K has pushed the price down from $32K. Bitcoin’s trade volume, on the other hand, has dropped by 29% during the same period and is presently at $14B.
Converging Bollinger bands are indicative of lessening volatility for Bitcoin. However, the Relative Strength Index (RSI) is below its average line, suggesting a negative trend as bears attempt to gain control of the market.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on losses of 0.9% within a day of trading to take it to $1938 as the trading volume dropped by 35% to take it to $5B as of press time. ETH’s volatility levels are also slowly decreasing as the Bollinger bands maintain a relatively close distance.
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
There has been a lazy day of trading on Ripple, with the asset’s value dropping to $0.487, a decline of 0.12% in 24 hours, while trading volume fell by 24% to $777M.
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.
Storj analysis
Storj is making massive movements in today’s market, rallying 50% within a day of trading to take its price to $0.526 as the market cap currently stands at 215.82M and a trading volume of 636.12 M as of press time.
The asset’s volatility levels are also relatively high as the Bollinger bands diverge, indicating rising volatility levels on Storj. The relative strength indicator is also high above its average line as the bulls push for dominance. The MACD indicator is also high in the positive region as bulls dominate.
Other notable gainers today are Aave (AAVE), as the asset now trades at $79.72, as the asset’s gains stand at 5.8% within a day of trading. Dogecoin (DOGE) is also trending with mild increases of 0.6% within a day of trading.
