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Today’s market session started with a bullish sentiment as the global market cap decreased 0.9% within 24 hours of market activity, taking the total market cap to $1.18T as of press time.
Bitcoin (BTC) analysis
Bitcoin is seeing bear activity on its network as it faces massive resistance at the $31K level. Currently trading at $30.3K, Bitcoin has seen a 1.07% drop from its previous 24-hour price as the trading volume registered a 26% increase within the same period to take it to $14.7B.
Bitcoin’s Volatility levels are still decreasing as the Bollinger bands converge toward each other. However, The RSI is moving below its average line, showing the effort by bears to grasp the network as the MACD also moves in the negative region.
Ethereum (ETH) analysis
Ethereum has also had a relatively mild day with bear activities as the asset starts today with a loss of 1% in price valuation to take its price to $1870 as of press time. At the same time, the trading volume saw a 25% increase within the same period, taking it to $6.2B as the market cap also dropped by 0.6%.
ETH’s volatility levels are also not so high as the asset’s Bollinger bands maintain a close distance from 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, leading the bear efforts on Ethereum.
1inch Network (1INCH) analysis
1INCH, on today’s trending list, failed to post notable gains as the asset trades 2.7% low from its previous 24-hour price, as it now trades at $0.31, ranking at #100 on CoinMarketCap as the 7-day drop in valuation also stands at 1.34%.
However, the token’s volatility levels are low as the Bollinger bands converge, indicating reducing volatility on the asset as the RSI moves above its average line showing bull dominance on 1INCH as the MACD indicator also hovers around in the positive region.
Coinflux (CFX) analysis
Coinflux is also having a turbulent session as the asset sits on a 24-hour drop of 1.6% to take its price to $0.195 as the trading volume now sits at 120.02M as of press time, with a market cap of 598M. CFX has a current circulating supply of 3.07B CFX.
CFX’s volatility levels also decrease as the Bollinger bands converge, indicating reducing volatility as the RSI indicator moves above the average line indicating a bull presence on CFX. CFX’s MACD indicator also moves in the positive region again, showing bull dominance.
Other analysis
Despite the bear trend, markets have seen other notable gainers, with MonaCoin (MONA), among the trending assets, dominating with bull activity despite the asset currently trading at 0.14%. Steem (STEEM) made tremendous gains today as the asset trades 6% above its previous 24-hour price. XAI Corp (XAI) trades 333% above its previous 24-hour price.