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Markets Start the Week on Bullish Momentum, Stacks Rallys

source-logo  blockchainreporter.net 03 July 2023 10:05, UTC

Today’s market session kicked off the weekend with a bullish santiment, recording an increase of 1.4% to take the total cap to $1.15T as of press time. Bitcoin (BTC), is also having a fruitful session gaining 0.5% in price valuation within a day of trading to take its price to $30,666 as of press time.

Bitcoin’s volatility levels are still high, with the Bollinger bands moving far from each other, indicating high volatility on the asset. However, the relative strength index indicator is moving below its average line, signaling a bearish trend on Bitcoin.

The MACD indicator is moving above its average line, displaying the market struggle between bulls and bears.

Altcoin analysis

Ethereum (ETH) has also started strongly as the asset now boasts a 1.5% gain within a day of trading as it hovers above the $1.9K mark. Trading at $1944 as of press time, ETH’s trading volume stood at $6,778,561,727, and the market cap also stood at $233,805,963,022. ETH’s weekly gain stood at 3% at press time.

Other altcoins are also doing relatively well, with Ripple (XRP) only losing 0.4% in a day of trading behind Cardano (ADA), Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC), which have gained 1%, 1.1%, 1.8%, and 2% respectively within a day of trading.

Tron (TRX) has also registered notable gains, increasing its price valuation by 1.4% within a day of trading to take its price to $0.07662, as the weekly gain also stands at 4%. Shiba Inu is also doing well, as the asset now boasts gains of 1.4% within a day of trading.

SHIB 1-day chart | Source: CMC

Another notable gainer in today’s session is Immutable (IMX), trading at $0.76, representing a 5% gain within a day as the weekly gain stands at 7%. IMX has a current market cap of $799,707,652 as the asset’s bulls look to consolidate a bullish trend.

Stacks (STX) is having a significant market session, recording an increase of 6.2% to take its price to $0.7316 as of press time. STX’s market cap stood at $1,014,892,323, and the trading volume stood at $73,545,029.

STX 1-day chart | Source: CMC

Other notable gainers are The Graph (GRT) which has gained 15% in 24 hours to take its price to $0.1248 as of press time as the weekly gain currently sits at 13.6%.