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Markets are still encountering bear activity, with the global market cap recording a 6.3% decrease in a day to take the total cap to $1.06T as of press time. The fear and greed index is still at 37, as fear now stands rampant on the markets.
Bitcoin analysis
Bitcoin (BTC) continues to face massive bear activity as the asset still hovers around the $26K level, as it is now trading at $26.09K after recording a daily drop of 5.5% and a weekly decrease of 11%. Bitcoin’s trade volume has spiked by 55% during the same period and is presently at $33.5B.
The Bollinger bands are still diverging, indicating a continuous rise in the volatility of Bitcoin as the Relative Strength Index (RSI) is below its average level in the oversold region, indicating total bear dominance in today’s session as the MACD also now moves in the red zone.
Ethereum (ETH) analysis
Ethereum (ETH) is still going slow, as the asset now sits on losses of 2.9% within a day of trading to take it to $1663 as the trading volume jumped by 78% to take it to $15.1B as of press time. ETH’s volatility levels are still unstable as the Bollinger bands diverge from each other.
The RSI indicator is moving below its average line in the oversold region, indicating a bear dominance. The MACD indicator also moves below in the negative region, showing the effort by bears to dominate markets.
Solana (SOL) analysis
Solana is still having a bearish session despite being among the trending tokens after posting losses of 5.5% within a day of trade, as the asset’s trading volume also stands at $620M, representing a 51% increase within a day of trade.
Solana’s volatility levels are also on the verge of an increase as the asset’s Bollinger bands now look to diverge. The asset’s RSI also moves below the average line as the MACD also moves in the negative region showing great bear dominance.
Bad Idea AI (BAD) analysis
BAD, despite today’s bear market, is making tremendous gains as the asset now sits on gains of 50% within a day of trade to now hold a spot price of $0.00000008968 as of press time, with the trading volume dropped by 36% to now stand at $7.55M.
BAD’s volatility levels are, however, high as the Bollinger bands maintain a high distance from each other as the RSI moves below its average line, with bulls now pushing for a comeback as they look to dominate.
Injective (INJ) analysis
INJ also has a good day as the asset sits on gains of 7%n within a day of trad to take the asset’s price to $7.74, while the trading volume now sits on gains of 105% to stand at $108M.
INJ’s volatility levels are also increasing as the Bollinger bands diverge from each other as the RSI moves above its average line as the MACD approaches a shift to the green zone showing great bull dominance.
Ripple (XRP) analysis
Ripple is having a slow session amid the bear market as the asset trades 5.3% above its previous 24-hour price as it now holds a spot price of $0.507, with the trading volume recording a 127% surge within a day of trade to take it to $3.2M.
XRP’s volatility levels are also increasing as the Bollinger bands diverge from each other while the RSI now moves in the oversold region showing great bear dominance as the MACD also moves in the negative region.
USDT is also making trends today as the stablecoin now trades 0.01% below its previous 24 our price as it now depegs from the $1 price to now retail at $0.9995.