Today’s market session has kicked off rather slowly, recording a 0.2% within a day of trading as the total market cap stands at $1.13T. Bitcoin (BTC), the crypto king, is going through a turbulent session as the asset now drops back to $26K as the asset now faces resistance at the $27K level.
Trading at $26.9K, BTC was sitting on a 0.45% loss within a day of trading as the trading volume also decreased by 6%. The market cap also recorded a loss of less than 1% within the same period.
Bitcoin’s volatility levels are however decreasing as the Bollinger bands strategy converge closer to each other showing stability on BTC’s network. The RSI is, however, moving below its average line, signalling a likely bearish trend on the network. The MACD indicator is also moving on the negative side, signalling a bearish trend on Bitcoin as bears now strive to push the asset to the oversold region.
Altcoin analysis
Altcoins have also started today’s session slowly, with Ethereum (ETH), the altcoin king, recording mild gains of less than 1% within a day of trading. Trading at $1,818 ETH was sitting on a 0.33% gain within a day of trading as it recovers from a 1% weekly loss in valuation. Ethereum’s trading volume had dropped by 6% as the market cap also dropped by less than 1% within the same period.
Ripple (XRP) is dominating today’s session, sitting on gains of 6.5% within a day of trading. With a weekly gain of 5.4% as of press time, Ripple’s trading volume surged by over 70% within the same period. The market cap had also increased by over 6% within the same period.
Dogecoin (DOGE) and Cardano (ADA), have also recorded mild gains of more than 1% as the altcoin markets look to consolidate a mild recovery run. Solana (SOL) and Polygon (MATIC) both recorded mild losses of less than 1%.
Litecoin (LTC), is dominating again recording gains of over 5% within a day of trading to take the price of LTC to $92.45 as of press time. The asset’s trading volume has also surged by 19% within the same period, as the market cap also rose by over 5% as of writing.
Today’s most notable gainer stands as ChitCAT (CHITCAT), which boasts gains of close to 100% within a day of trading, to rank the asset as the 6th most trending on CoinMarketcap. Trading at $0.5 as of press time, the asset had gained 93% in valuation within a day of trading as the weekly gain stood at 1,242,129 as of press time.
