Bitcoin Hovers at the $26K Level as Meme Coins Dominate

Sunday’s market session has kicked off characterized with minimal bull flags as the global market cap recorded a 0.13% raise within a day of trading to take the total cap to $1.12T as of press time. Bitcoin (BTC) is still facing resistance at $27K despite recording mild increases of less than 1%. 

Trading at $26.8K during press time, BTC was sitting on a 0.27% daily gain as bulls push for a recovery from its 7% weekly dip. Bitcoin’s trading volume has also gone down by 42% as the market cap also rose by 0.2% within the same period.

The volatility levels are also going down as the Bollinger bands diverge closer to each other, showing decreasing volatility levels. The RSI is now moving high above its average line, signaling a bullish trend on Bitcoin. The MACD indicator is also now high above its average line, signaling a bullish trend.

 Altcoin analysis

Ethereum (ETH), the altcoin king is now facing new resistance at the $1.9K level, as it now trades at $1804 representing an increase of less than 1% displaying minute bull activity. Ethereum’s trading volume has also gone down by 38% within a day of trading as the market cap also rose by 0.1% at press time.

Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) all are on for a turbulent market as they sit on drops in valuation of less than 1%. BNB has however defied the bear trends recording a mild 0.73% increase in price valuation within a day’s trading, as its trading volume dropped by 16% within the same period.

Kava (KAVA) is however dominating today’s session as it sits on a 24-hour gain of 6.7% and a weekly gain of 34%. Trading at $0.99 at press time, Kava’s trading volume had decreased by 46% as the market cap also rose by over 6%. 

SAUDI PEPE is today’s top gainer as it records gains of 294% within a day of trading and a weekly gain of 307%. SAUDI PEPE is ranked second on the trending list, below Pepe which is also sitting on a 17% gain within a day’s trading. The meme coin’s trading volume has also recorded a notable 370%.

Milady Meme Coin (LADYS) has also gained 39% within the same period to come in at Third on the trending list ahead of Homer (SIMPSON), which ranks at fourth trending with a 200% gain in 24-hours and a weekly gain of 16031%.