Daily Market Recap: Solana and Toncoin Stand Out with Gains Despite Sluggish Trading

Market Overview

Today’s market session started with bear activity as the global market cap decreased by 0.24%, showing reduced bull activity or increasing bear activity. The fear and greed index meter is currently at 50, indicating neutrality across the market.

Bitcoin Analysis

Bitcoin (BTC) has now encountered bear activity, trading at $29.3K after recording a daily drop of 0.16% and a weekly increase of 0.4%. Bitcoin’s trade volume has increased by 23% during the same period and is presently at $12.2B.

The Bollinger bands are still converging, indicating that the volatility of Bitcoin is decreasing. The Relative Strength Index (RSI) is still above its average level, showing the effort by bulls for market dominance as the MACD also now moves in the green zone with bears struggling for a clawback.

Ethereum (ETH) Analysis

Ethereum (ETH) has also started today slowly, as the asset now sits on mild losses of 0.38% within a day of trading to take it to $1839 as the trading volume dropped by 2.3% to take it to $3.6B as of press time. ETH’s volatility levels are also slowly decreasing as the Bollinger bands maintain a relatively close distance.

The RSI indicator is still above average as the asset’s bulls push for dominance. The MACD indicator also moves slightly in the green zone showing a struggle between bulls and bears for dominance on Ethereum.

Solana (SOL) Analysis

Despite the general bear trend on today’s market, SOL is having a tremendous session as the asset trades 2.2% above its previous 24-hour price. Trading at $24.9 as of press time, SOL’s trading volume had increased by 35% within the same period.

SOL’s volatility levels are also now stable as the Bollinger bands maintain a rather close distance from each other. SOL’s RSI is also above its average line, showing bull dominance as the MACD moves in the green zone.

Toncoin (TON) Analysis

Toncoin (TON) also has a tremendous session in today’s market, trading 4.9% above its previous 24-hour price. The asset now holds a spot price of $1.45, as the weekly gain now stands at 20%. Toncoin’s trading volume has also spiked by 9% within the same period, taking its trading volume to $42M.

However, Toncoin’s volatility levels are high as the asset’s Bollinger bands diverge from each other while the RSI approaches a crossover to the overbought region. The MACD also is moving in the green zone showing total bull dominance on Toncoin.

Other Gainers

Other notable gainers of today’s session are Hedera (HBAR) which has gained 13% within a day’s trade to take its price to $0.07341, while THORChain (RUNE) also boasts massive gains of 14.7% to now trade at $1.59. Frax Share (FXS) has also gained well, trading 4% above its previous day’s price as the asset holds a spot price of $6.8.

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