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Markets have started slowly, with the global market cap recording a 1.76% decrease in a day to take the total cap to $1.17T as of press time. The fear and greed index is also currently at 52, a neutral position, according to CoinMarketCap, as it gets better and better.
Bitcoin analysis
Bitcoin (BTC) is still facing some bear activity as it still hovers below $30K and is now trading at $29.1K after recording a daily drop of 2% and a weekly decrease of 2.9%. However, Bitcoin trade volume has climbed by 45% during the same period and is presently at $14.5B.
The Bollinger bands have now slightly diverged, indicating that the volatility of Bitcoin is increasing. The Relative Strength Index (RSI) is still below its average level, showing the effort by bears for market dominance.
Ethereum analysis
Ethereum (ETH) has also started today slowly, as the asset now sits on losses of 0.9% within a day of trading to take it to $1898 as the trading volume jumped by 30% to take it to $5.9B as of press time. ETH’s volatility levels are still low as the Bollinger bands maintain a relatively close distance.
The RSI indicator, however, has shifted below its average line, again indicating a likely bearish trend on Ethereum as the asset’s bears push for market dominance. The MACD indicator also moves below in the negative region, showing the effort by bears to dominate markets.
Dogecoin (DOGE) analysis
Doge is making tremendous gains again as the asset, currently on top of the trending list, sits on gains of 9% within a day, taking its price to $0.07773 as of press time, while the weekly gain is 12%. Doge’s trading volume has also seen a 526% increase within the same period as activity on the network surges ahead of Elon’s incorporation of a Doge symbol on his Twitter.
Anyone else notice the Dogecoin (Ɖ) symbol in Elon Musks location pic.twitter.com/Y1OGT42hD2
— Morgan (@Helloimmorgan) July 24, 2023
Doge’s volatility levels are also rising as the Bollinger bands diverge from each other amid the spike in activity. At the same time, the RSI now approaches a shift to the overbought region while the MACD also moves in the positive region displaying bull dominance.
Trust Wallet Token (TWT) analysis
TWT is also making notable gains in today’s session as the asset trades 3.2% above its previous 24-hour price, as the asset now trades at $0.917 while the weekly pay stands at 9.8%. TWT’s trading volume has also risen by 527% within the same period.
TWT’s volatility levels also increase as the Bollinger bands diverge while the RSAI moves high above its average line indicating bull dominance. The MACD indicator also moves in the positive region again, showing bull dominance.
Other analysis
Magic Internet Money (MIM) is still making trends as the asset now trades at 0.29% above its previous 24-hour price. In comparison, X also causes it to the trending list ahead of Twitter’s re-branding as it now trades 21% below its previous 24-hour price according to CoinMarketcap stats.