Bulls Kick-Off Session On The Front Foot as KNC Dominates

Today’s market session has kicked off with bullish signals as the asset records a 0.5$%$ increase within a day of trading to take the total cap of $1.18T as of press time, while the fear and greed index stands at 52, showing a neutral market state.

Bitcoin analysis

With a daily rise of 0.5% and a weekly decline of 1.7%, Bitcoin (BTC) is now trading at $29.3K, as it still faces resistance at $30K while bulls struggle for a break back. While this happens, Bitcoin’s trading volume has decreased by 6% and is now at $10.2B.

The Bollinger bands are still diverging as we infer that Bitcoin’s volatility is growing. Bears continue to attempt to gain control of the market, as shown by the Relative Strength Index (RSI) which is now moving below its average line.

Ethereum (ETH) analysis

Ethereum’s (ETH) day has also been off to a bullish start as the asset is up 0.6% to $1873, while trade volume is down 14% to $3.5B as of press time, as bull activity remains mild. Bollinger bands for ETH continue to maintain a neutral distance, indicating less volatility. 

The Relative Strength Index (RSI) is still below its neutral line as the bull approach a crossover, signaling the struggle between the asset’s bulls and bears for market supremacy. The MACD indicator is also currently in the red zone but approaching a shift to the green region.

Shiba Inu (SHIB) analysis

Shiba inu is also having a tremendous session as the asset now sits on gains of 5.4% within a day of trading to take the asset’s price to $0.000008242 as of press time while the trading rose by 276% within a day of trade.

However, SHIB’s Bollinger bands are converging despite the increase in trading volume showing stable volatility levels. The RSI is above its average line as bulls push for the overbought region. The MACD also moves in the green zone again, showing bull dominance.

Kyber Network Crystal v2 (KNC)

KNC is also having a good session as the asset trades 11% above its previous 24-hour price to take its price to $0.786 as the weekly gain stands at 28%. KNC’s trading volume increased by 267% within the same period.

 However, KNC’s volatility levels are high as the Bollinger bands now diverge from each other, showing increasing volatility. The RSI is moving above its average line in the overbought region showing great bill dominance on the network. 

Other trending tokens in today’s session are Refereum (RFR) which has gained 52% within a day of trade to take its price to $0.01209 as of press time, and Profit Blue (BLUE), which is currently trading at 9.3% below its previous 24-hour price for $0.00008369.