Bitcoin Faces More Resistance as TON Records Promising Gains

As of the time this article was published, the total market value was at $1.20 trillion, indicating that today’s market session is quite quiet. Within the last 24 hours, the total market cap has seen a little reduction of 0.16%, bringing it to its current level. BTC is still meeting sellers near the $30,000 level, despite the fact that the commodity opened today’s session with minute bull signals and has recorded a 0.14% gain in the last twenty-four hours.

The trading volume of Bitcoin has decreased by 14% over the same time period, despite the fact that the market valuation of Bitcoin has increased by 0.1% during the same time period. Bollinger bands are becoming closer together, which indicates that Bitcoin’s volatility is staying the same today.

The MACD indicator is getting closer to its average line as bulls want to drive it back above to the positive zone and push the crypto king back over the $30,000 mark. Bulls also hope to drive the MACD indicator back above to the positive region.

BTC 1-day chart | Source: TradingView

The Ethereum market is currently experiencing choppy conditions. The value of the asset, which was previously valued at more than 1.9 thousand dollars, had a little decline of 0.1% in price valuation throughout the last twenty-four hours. At the time of publication, the price of ETH stood at $1899, but the trading volume had decreased by 21% during the same time period.

Altcoin analysis

According to the statistics provided by CoinMarketCap, altcoin markets are also highly volatile, with the bulk of altcoins posting declines. As of the time of publication, the market value of ADA, Doge, Polygon, XRP, and DOT had all decreased by around 2% over the previous twenty-four hours.

Nevertheless, in spite of the fact that the market is currently in a bearish trend, TON is doing quite well, as evidenced by its 2% gain within the past 24 hours as it recovers from a 5% weekly price drop. Ton has seen a 30% decrease in trading volume despite the fact that its price had increased to $2.09 at the time of publication. The total value of the asset on the market had also increased by 2%.

TON 1-day chart | Source: CoinMarketCap

Sui continues to lead the trending list recording a 65 loss within 24 hours as it sits on a weekly drop of 71% as the asset trades at $1.28. One notable gainer on the trending list is WSB, which recorded a 131% increase within 24 hours as it recovers from a weekly drop of 345 according to CoinMarketCap data.

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