Today’s market session seems a rather slow one with the global market cap recording a slight decrease within 24 hours. Sitting on a 0.2% decrease within 24 hours, the global cap stood at $1.21T as of press time.
Bitcoin is on for a rather slow day after reclaiming the $29K mark. Trading at $29.3K at press time, the asset had recorded a decrease of less than 0.4% as the weekly gain stood at 7%. BTC’s trading volume also saw a decline of over 30% within the same period as the volatility levels remain calm according to data presented by Bollinger Bands as the asset continues to sit on top of CoinMarketCap’s trending list.
The RSI indicator, moving at 56, was above its moving average as the asset as it looks to cross above the overbought region. BTC is now facing resistance at $30K as bulls strive to drive the crypto king back above the level.
Ethereum continues to face resistance at the $2K level, as it also sits on a 24-hour drop of slightly less than 1%. ETH’s weekly gain currently stands at 2.4% as the trading volume recorded a 40% decrease within the same period as of press time.
Altcoin analysis
Altcoins are on for slight recoveries with Litecoin, Polkadot, and Doge recording slight increases of less than 1% within 24 hours of trading as of today’s early morning trading session. Cardano however seems to be in terbulances registering a loss in valuation of more than 1% within the same period.
Solana is dominating today, sitting on a 24-hour gain of 3.5% as well as a weekly gain of close to 9% as the asset traded at $23.22 as of press time. SOL’s trading volume as well recorded an increase of over 25% within the same period as the network continues to face increased activity.
Internet Compotuer’s ICP, ranking at position 26 on CoinMarketCap, has recorded a daily gain of 85 as well as a weekly gain of 18% as of press time. The asset’s trading volume has also seen a surge of over 100% within the same period. ICP’s market cap also recorded a similar increase of 8% within 24 hours. This comes ahead of a new development on the asset’s network that might have seen a surge of activity in the network.
TAMA has also recorded notable gains as it sits third on CoinMarketCap’s trending list, boasting a 24-hour gain of close to 10% as well as a monthly gain of over 120%. Despite the surge, the trading volume has gone down by over 37% as the market cap recorded an increase of 9.5% as of press time.
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