BTC Continues to Face Resistance as Terra Luna Dominates 

Today’s market session has started on a bull signal with the global market cap achieving an increase of 0.28% as of writing, taking the total market cap to $1.14T. The crypto king is still facing resistance at the $27K level as bulls now look to drive the crypto king back above 28K.

Trading at $27.6K as of press time, the crypto king had recorded a 0.34% increase in price valuation within a day of trading. BTC’s trading volume had dropped by 21% within the same period as the total market cap also recorded a mild increase of 0.3 as of writing.

Bitcoin’s volatility levels are high today with the Bollinger bands now moving further from each other. The relative strength index is now moving above its average line giving a bullish signal for the crypto king as the MACD indicator now approaches the positive region indicating the efforts by bulls to consolidate a bull run.

BTC 1-day chart | Source: TradingView

Ethereum has also started today’s session on a low note as Ethereum bulls and bears struggle to get a grip on the markets. ETH is facing resistance at the $1.9K level as it now trades at $1,844, representing a mild increase of 0.04% as of press time. ETH’s trading volume has also dropped by 295 as the market cap also rose by 0.055 within the same period.

ETH 1-day chart | Source: Coinmarketcap

Altcoin analysis

Ripple has started today’s session on a bullish signal as the asst recorded an increase of close to 1% within 24 hours. Trading at $0.43, XRP had risen by 0.9% in valuation within a day of trading. Doge and Solana have also recorded increases in their valuation, both gaining 0.6% and 0.4% within a day of trading. Tron and LTC are also sitting on gains of over 1% within the same period.

Terra Classic is dominating today’s session with gains of over 13% within a day of trading as it recovers from a weekly drop of 10%. LUNC’s trading volume has increased by 46% as activity on the asset’s network increases. LUNC’s market cap also recorded an increase of 13% within the same period. 

Terra 1-day chart | Source: CoinMarketCap

Kava is also dominating today’s session, recording a 15% increase within a day of trading as it sits on a weekly gain of 11%. Bitcoin SV is another dominant force in today’s session as it also rose by 13% within the same period.

PEPE continues to dominate other meme coins, sitting as the most trending asset on CoinMarketCap as it boasts a day gain of 45. PEPE is now ranked 57 on CoinMarketCap charts. 

Source link

Check Also

Important IoT Skills to Boost Your Career

The term Internet of Things or IoT has set new benchmarks for global connectivity alongside …