Solana Fails to Post Gains as Markets Ride on Mild Bull Activity

Markets are riding on slight bull activities, with the global market cap recording a 0.14% increase in a day to take the total cap to $1.18T as of press time. The fear and greed index is also currently at 51, a neutral position, according to CoinMarketCap, as the number remains stagnant.

Bitcoin analysis

Bitcoin (BTC) has encountered some minor bull activity as the asset now trades at $29.4K after recording a daily increase of 0.02% and a weekly increase of 1.2%. Bitcoin’s trade volume has climbed by 3% during the same period as well and is presently at $6.5B.

The Bollinger bands are still converging, indicating that the volatility of Bitcoin is decreasing as the Relative Strength Index (RSI) moves above its average level, showing the effort by bulls for market dominance.

Ethereum analysis

Ethereum (ETH) is also seeing mild bull activity as the asset now sits on gains of 0.4% within a day of trading to take it to $1855 as the trading volume dropped by 6% to take it to $2.2B 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 however moving above its average line, indicating full dominance on Ethereum as the asset’s bears and bulls ramble for dominance. The MACD indicator also moves now approaches a shift to the green zone, as bulls look to dominate.

Solana (SOL) analysis

SOL is having a slow session today as bears dominate the network with the asset posting a decrease of 1% in valuation within a day of trade as the token now holds a spot price of $24.5 as the market cap recorded a 15% increase within the same period as it now stands at $277M.

SOL’s volatility levels are however stable as the Bollinger bands maintain a relatively close distance from each other as the RSI indicator moves above its average line, indicating bull dominance on Solana as the MACD indicator also now shifts to move in the green zone.

Polkadot (DOT) analysis

DOT is also having mild bull activity as the asset now trades 0.16% above its previous 24-hour price as it now holds a spot price of $5 the trading volume also increased by 15% within the same period as it now stands at $71M.

DOT’s volatility levels are also rather stable as the Bollinger bands maintain a relatively close distance from each other while the RSI indicator moves above its average line showing bull dominance on DOT as the MACD also approaches a shift to the green zone.

Chainlink (LINK) analysis

LINK is also having a bullish session as the asset sits on gains of 1.1% within a day of trading to hold a spot price of $7.49 as of press time as the trading volume recorded a 14% increase within the same period to take it to $127M.

LINK’s volatility levels are however low as the Bollinger bands move close to each other with the RSI indicator moving above its average line indicating bull dominance as the MACD indicator now approaches a shift to the green zone.

Ethereum Classic (ETC) analysis

ETC is also hovering on mild bull activities as the asset now trades 0.19% above its previous 24-hour price as the asset now trades at $17.71 as of press time with the trading volume also recording a 10% increase within the same period.

ETC’s volatility levels are also rather stable as the asset’s Bollinger bands now move at a close distance from each other while the RSI indicator moves below its average line as bulls push for a crossover while the MACD indicator also approaches a shift to the green zone.