ETH Closes in on $2K as PEPE Dominates with Massive Gains

The weekend’s market session has kicked off with a bullish momentum with the global market cap recording a 1.19% increase within 24 hours, taking it to $1.21T. BTC is giving bull signals as the asset continues to face resistance at the $30K level with bulls looking to reclaim the year’s ATH. Trading at $29.4K, BTC was sitting on a 0.5% gain in 24 hours as the weekly gain stood at a mild 0.04%. 

Bitcoin’s trading volume has recorded a 3.9% increase within the same period as the market cap also rose by 0.5%. Bitcoin’s volatility levels are rather stable at the moment with the Bollinger bands moving closer to each other. 

The RSI indicator, moving at the 55 mark as of press time, is above its average line displaying bull signals as bulls look to drive it to the overbought region. The MACD indicator has also shifted to the positive region with BTC now looking to consolidate a bull run.

BTC 1-day chart | Source: TradingView

Ethereum bulls have also started today on a strong note with the asset recording a 3.4% gain within 24 hours, as the asset edges in on reclaiming the $2K mark. Trading at $1.96K as of press time, ETH’s trading volume had seen a notable 50% gain within 24 hours as the market cap also rose by 3.4%.

ETH 1-day chart | Source: CoinMarketCap

Altcoin analysis

Altcoin markets are rather pleasant today with Solana leading the way with a notable gain of close to 4% within a day of trading. Solana, trading at $22.67 as of press time, recorded a 3.95 gain within 24 hours as bulls now control the markets. Sol’s trading volume had also recorded a 59% increase within the same period as the market cap sat on a 4% gain according to CoinMarketCap stats.

SOL 1-day chart | Source: CoinMarketCap

DOT, TRON, AVAX, and LINK also recorded mild gains of close to 2% within the same period.

On the other hand, today’s trending list is being particularly run by meme coins with Pepe, Doge, and Floki coming in at the first second, and third respectively. PEPE, which has been making trends the whole week, currently sits on a 48% 24-hour gain as the weekly gain stands at an impressive 903% as well as a stunning monthly gain of 5400%. 

PEPE 1-day chart | Source: CoinMarketCap

Floki is also sitting on a 35% gain within 24 hours as well as a 21% weekly gain. Dogecoin is however struggling despite being among the top trending coins, having recorded a 0.4% gain within 24 hours, as it recovers from its 2% weekly drop. Sui is also consolidating a recovery run, gaining 3.6% within 24 hours.

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