Bulls and Bears Struggle for Dominance as Tron (TRX) Makes Notable Gains
Markets are still carrying on the mild bull activity, with the global market cap recording a 0.7% 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) is still encountering some bull activity as the asset struggles for a break back above $30K and is now trading at $29.8K after recording a daily gain of 0.19%, as the weekly decrease now stands at 1.4%. However, Bitcoin trade volume has dropped by 24% 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, however, 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 0.08% within a day of trading to take it to $1888 as the trading volume dropped by 28% to take it to $3.7B 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 continue to push for market dominance. The MACD indicator also moves below in the negative region, showing the effort by bears to dominate markets.
Ripple (XRP) analysis
XRP is still making trends as the asset trades 1% below its previous 24-hour price with a standing price of $0.766, while the weekly gain now stands at 7.9%. XRP’s trading volume has seen a 26% increase within the same period as it now stands at $1.4B.
Ripple’s volatility levels are still high as the Bollinger bands diverge away from each other, indicating increasing volatility. The RSI also moves high in the overbought region as bulls push for market dominance, while the MACD indicator also moves high in the positive region.
XDC Network (XDC) analysis
XDC is having a tremendous session today as the asset sits on gains of 35%. The weekly gain currently stands at 67%, with the asset trading at $0.05452, while the trading volume rose by 68% while the trading volume rose by 35%.
XDC’s volatility levels are also increasing as the Bollinger bands diverge from each other as the RSI moves high above its average line in the overbought regions. The MACD indicator also moves high in the positive region, again sowing bull dominance.
Tron (TRX) Analysis
TRX is also having a good session today as the asset now sits on gains of 5% within a day of trade to take its price to $0.085, while the weekly gain currently stands at 5.9%. TRX’s trading volume has also up by 385% as it now stands at $809M.
TRX’s volatility levels increase as the Bollinger bands diverge from each other as the RSI indicator moves above its average line in the overbought region. At the same time, the MACD indicator also moves in the positive region.
Other notable gainers in today’s session are Hamsters (HAMS) which is making trends with gains of 138% as of press time, while StormX (STMX), as the asset, now sits on gains of 19% to take its price to $0.007104.