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Today’s market session started turbulently as the global market cp recorded a drop of 2.3% within 24 hours of market activity, taking the total market cap to $1.17T as of press time.
Bitcoin (BTC) analysis
Bitcoin still sees much bear activity on its network as it faces massive resistance at the $31K level. Bitcoin, Currently trading at $30.1K, has seen a 1.8% drop from its previous 24-hour price as the trading volume registered a 70% increase within the same period to take it to $585,301,821,916.
Bitcoin’s Volatility levels are still decreasing as the Bollinger bands converge toward each other. The RSI is, however, moving below its average line, showing the effort by bulls to grasp the network as the MACD also now moves in the negative region.
Ethereum (ETH) analysis
Ethereum has also had a relatively slow session today as the asset starts today with a drop of 3.5% in price valuation to take its price to $1855 as of press time, while the trading volume saw a 50% increase within the same period to take it to $9,607,725,323 as the market cap also dropped by 3.5%.
ETH’s volatility levels are also falling as the asset’s Bollinger bands shift toward each other. At the same time, the RSI indicator still moves below its average line, showing the bear’s effort to control the asset’s network. The MACD indicator has also shifted to the negative side, showing the bear efforts on Ethereum.
Srorj analysis
Storj, currently making trends, has also started on a relatively low note as the asset records a loss of 4% within a day of trading to take its price to $0.36 as the asset’s trading volume currently stands at 189.75M, and the market cap at 149.48M as it ranks at #161 on CoinMarketCap.
Storj’s volatility levels are still high as the Bollinger bands maintain a relatively high distance away from each other as the RSI comes close to a shift below its average line amid intense bear action on the asset’s network. The MACD indicator, currently in the positive region, is also moving towards the average line sowing great bear dominance.
FTT analysis
FTX’s native token FTT has also failed to maintain its impressive bull run as it now sits on a drop of 5% from its previous 24-hour price to take its price to $1.4821 as of press time while the trading volume stood at 21.02M and the market cap at 487.46M.
FTT’s volatility levels are also high as the Bollinger bands maintain a high distance from each other. At the same time, the RSI indicator also moves below the average line showing the bear takeover on the token. At the same time, the MACD indicator also now moves in the negative region.
Other altcoin analysis
Other altcoins are also having rather turbulent sessions despite three notable gainers. Solana (SOL) is doing well with gains of 2% in today’s bear market as it now trades at $20 while the weekly gain stands at 7%, according to CoinMarketCap data. Maker (MKR) has also seen a rather fruitful session in today’s turbulences as the asset now sits on a 24-hour gain of 1%, and the 7-day gain stands at 39%.