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Markets have started on mild bull activity, with the global market cap recording a 0.5% increase daily to take the total cap to $1.2T as of press time. The fear and greed index is also currently at 55, indicating a neutral position, according to CoinMarketCap.
Bitcoin analysis
Bitcoin (BTC) has encountered some bull activity as the asset approaches a break back above $30K and is now trading at $29.9K after recording a daily gain of 0.4%, as the weekly decrease now comes to 1.2%. However, Bitcoin trade volume has dropped by 31% during the same period and is presently at $10B.
The Bollinger bands are still moving close to each other, indicating that the volatility of Bitcoin is currently low. The Relative Strength Index (RSI) is moving below its average level, showing the struggle between bulls and bears for market dominance.
Ethereum analysis
Ethereum (ETH) has also started the week slow, as the asset now sits on mild gains of 0.06% within a day of trading to take it to $1892 as the trading volume dropped by 38% to take it to $4.2B as of press time. ETH’s volatility levels are also low as the Bollinger bands remain relatively close.
The RSI indicator is still below its average, 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 also having a tremendous session today as the asset sits on gains of 1.4% within a day of trade to take its price to $0.07266, while the trading volume rose by 8% within the same period to take it to $697745743 press time.
However, Doge’s volatility levels are low as the Bollinger bands maintain a relatively close distance from each other. The RSI indicator is moving above its average as bulls dominate the memecoins market. The MACD also moves in the positive region again, showing bull dominance.
Stellar (XLM) Analysis
Stellar is also having a good session today as the asset trades 4% above its previous 24-hour price. The asset’s weekly gain currently stands at 25%. The trading volume has also dropped by 46%. The market cap has also improved by 4%.
XLM’s trading volatility levels are increasing as the Bollinger bands diverge from each other as the RSI moves high in the positive region, and the MACD indicator again shows bull dominance on XLM.
Other analysis
Other notable gainers in today’s session are Chainlink (LINK) which is still making trends with slight gains of 0.7% to trade at $8.1 as magic Internet money (MIM) changes 105% above its previous 24 hours as its price stands at $2.02 while Augur (REP), trading at $2.41, sees an 8% drop within a day of trade.