Bitcoin (BTC) Re-claims $27K as Meme Coins Continue to Dominate

Today’s market session has kicked off on a bullish signal with the global market cap recording an increase of 1.42% within a day of trading to take the total cap to $1.14T. Bitcoin (BTC) the crypto king is now facing new resistance at $28K as the asset reclaimed the $27K level. Trading at $27.3K as of press time, BTC had seen an increase of 2% as it now recovers from a weekly drop of 2.9%. Bitcoin’s trading volume has also gone up by 27% as the total cap increased by 2%.

Bitcoin’s volatility now seems to be slowly increasing as the Bollinger bands are now diverging away from each other indicating a volatile market approaching. The relative strength index is now moving high above its average line signaling a bullish trend on Bitcoin’s network. The MACD indicator is also moving high above its average line, signaling a bullish trend consolidating Bitcoin.

BTC 1-day chart | Sorce: TradingView

Altcoin analysis

Ethereum (ETH), the altcoin king, has also started today’s session characterized by bull signals as the asset now sits on a 1.4% gain within a day of trading as of press time as it comes from a weekly drop of close to 2%. ETH’s trading volume has also gone up by 34% displaying the increased activity on the network.

ETH 1-day chart | Source: CoinMarketCap

Other altcoins are also doing relatively well with Ripple (XRP), Solana (SOL), and TRON (TRX) recording mild increases of less than 1%. Dogecoin (DOGE) and Cardano (ADA) both also recorded increases of over 1% as the general altcoin market seems to be consolidating a bullish trend.

Litecoin (LTC) is doing relatively well starting today with gains of over 7% as bulls now flock to the Litecoin network. LTC’s trading volume has also gone up by a notable over 100% as te market cap also rose by 7%.

LTC 1-day chart | Source: CoinMarketCap

Meme coins continue to dominate with Doge CEO dominating today’s session with gains of over 35% within a day of trading as it sits on a weekly gain of 214%. The meme coin’s trading volume has gone up by an astonishing 5525% within a day of trading as the total market cap also rose by 35%. Doge CEO comes in as the third trending asset on CoinMarketCap seconding Pepe which comes in first with an 8% drop.

Milady Meme Coin (LADYS) is also on a bull run of over 50% within the same period as its weekly loss in valuation stood at 795.

Source