Bear Effect Still Creep On Markets as DOGE and SHIB Post Gains

Markets are trying to recover from the recent dip, with the global market cap recording a 1.6% decrease in a day to take the total cap to $1.05T as of press time. The fear and greed index is still 34, showing great market panic.

Bitcoin (BTC) analysis

Bitcoin (BTC) is still facing bear activity as the asset now trades at $25.9K after recording a daily decrease of 2.05% and a weekly decrease of 11.9%. Bitcoin’s trade volume has dropped by 47% during the same period and is presently at $18B.

The Bollinger bands are still diverging, indicating that the volatility of Bitcoin is still high as the Relative Strength Index (RSI) moves below its average level in the oversold region, showing the effort by bears for market dominance.

Ethereum (ETH) analysis

Ethereum (ETH) is also seeing bear activity as the asset now sits on losses of 1.2% within a day of trading, taking it to $1661 as the trading volume dropped by 56% to reach $6.9B as of press time. ETH’s volatility levels are also high as the Bollinger bands maintain a divergence. 

The RSI indicator is still below its average line in the oversold region, indicating bear dominance on Ethereum. The MACD indicator also moves in the red zone asserting great bear activity on ETH.

Dogecoin (DOGE) analysis

Dogecoin is posting notable gains in today’s session despite the current dip, as the asset now trades 1.4% above its previous 24-hour price to hold a spot price of $0.06359, as the asset’s trading volume saw a 50% drop within a day of trade.

Doge’s volatility levels are also high as the Bollinger bands diverge from each other, with the RSI moving below its average line as bulls push for a comeback from the recent downtrend.

Shiba Inu (SHIB) analysis

SHIB also has a tremendous session as the asset now sits on gains of 0.6% within a day of trade, as the weekly drop now stands at 21.5%, with the trading volume also dropping 39% within the same period.

Shib’s volatility levels are also high as the Bollinger bands move far from each other while the RSI, currently below the average line, seems to be on a recovery run as bulls push for a comeback. The MACD currently moving in the red zone shows the bear sentiment still in the markets.

Other analysis

Hedera (HBAR) is another gainer in today’s bear market, as the asset now trades 12% above its previous 24-hour price and trades at $0.06411, with Aptos (APT) also posting notable gains of 5% to now trade at $6.04. Optimism (OP) is also a gainer today, sitting on gains of 3% within a day of trade to hold a spot price of $1.47.