Bears have an edge on the markets today as shown by the global market cap which has recorded a 0.3% decrease in the last 24 hours to take the total market cap to 1.67T as of press time. The trading volume has however jumped by 7% over the same period.
Bitcoin Price Analysis
Bitcoin is still riding on bear the Bitcoin price standing at $43K as of press time representing a 1.2% drop over the last 24 hours. The trading volume has, however, jumped by a mild 8% within the same period to $24.5B as of press time.
An in-depth analysis of 24-hour BTC/USD charts shows that bulls are in control of the BTC markets. This is seen as the Relative Strength Index indicator, (RSI), which now moves above 50 showing bullish prospects. The MACD on the other hand is moving in the green zone backing the bull prospects.
BTC 1-day chart | Source: TradingView
Ethereum Price Analysis
Ethereum (ETH) is also facing corrections from its earlier pump with the Ethereum price standing at $2311 as of press time representing a 2.9% dump over the last 24 hours. The trading volume has jumped by 12% within the same period to $10.6B as of press time.
Looking at an in-depth analysis of 24-hour ETH/USD charts, we see that bulls and bears are struggling for control of Ethereum markets as seen from the MACD, which is currently reverting from the negative region towards the zero line, suggesting fading bearishness on ETH. On the other hand, the RSI is also on a southern trajectory suggesting building bear momentum on the Ethereum price, as it crosses below 50.
ETH 1-day chart | Source: TradingView
Monero Price Analysis
Monero (XMR) is our first gainer of the day with the Monero price standing at $2311 as of press time representing a 1.6% pump over the last 24 hours. The trading volume has jumped by 1% within the same period to $91.4M as of press time.
Looking at an in-depth analysis of 24-hour XMR/USDT charts, we see that bulls are in control of Monero markets as seen from the MACD, which is currently in the green zone, suggesting bullishness on ETH. On the other hand, the RSI is also on a northern trajectory suggesting building bull momentum on the Monero price, as it crosses heads for the overbought region.
XMR 1-day chart | Source: TradingView
Ronin Price Analysis
Ronin (RON) is another gainer today with the Ronin price standing at $2.8 as of press time representing a 3.1% pump over the last 24 hours. The trading volume has jumped by 36% within the same period to $27.4B as of press time.
Looking at an in-depth analysis of 24-hour RON/USDT charts, we see that bulls are in control of Ronin markets as seen from the MACD, which is currently in the green zone, suggesting bullishness on RON. On the other hand, the RSI is also on a northern trajectory suggesting building bull momentum on the Ronin price, as it moves in the overbought region.
RON 1-day chart | Source: TradingView
Flare Price Analysis
Flare (FLR) is our last gainer today with the Ronin price standing at $0.023 as of press time representing a 0.9% pump over the last 24 hours. The trading volume has dropped by 6% within the same period to $14M as of press time.
Looking at an in-depth analysis of 24-hour FLR/USD charts, we see that bulls are in control of Flare markets as seen from the MACD, which has shifted to the green zone, suggesting bullishness on FLR. On the other hand, the RSI is also on a northern trajectory suggesting building bull momentum on the Ronin price, as it moves towards the overbought region.
FLR 1-day chart | Source: TradingView
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