Solana lost 3%, whereas Avalanche and XRP dropped around 1% each. On the other part, Dogecoin gained 4%, while BNB and Cardano followed with 2% each.
The crypto market traded somewhat flat today, Tuesday, as market players watched global events develop and how they might impact financial markets. Nevertheless, cryptocurrency trading volumes held the $100 billion mark despite economic uncertainty and a cautious stance inflamed by the Russia-Ukraine conflict.
Solana lost 3% as AVAX and XRP dropped around 1% each. Meanwhile, BNB and ADA followed Dogecoin’s 4% increase by surging 2% each. The global crypto market capitalization added a percent in 24 hours to climb to $2.16 trillion. On the other side, the total crypto trading volume increased by over 13% to $107.23 billion.
Expert View
Mudrex co-founder and CEO Edu Patel stated that the crypto market exhibited range-bound conditions within the previous 24 hours. He added that wick’s lower end remained sturdy since sellers tried to drag the market lower while bulls fought for upside.
Patel trusts that the increase in trading volumes reflects a slight bullish momentum in the marketplace. Moreover, the expert expects volatility in the coming days.
BitsAir Exchange founder Kunal Jagdale stated that the crypto spectrum saw decent recoveries within the past couple of days when Bitcoin secured ground over the $44K mark.
He added that the momentum seems to slow down lately. Jagdale believes the market can stay range-bound for some sessions and consolidate around current levels before unveiling a decisive move.
Tech View
Theta combines decentralization power with video streaming, a popular concept today. It allows different users to complete streams through their bandwidth. Moreover, Theta rewards users with its token TFUEL.
Meanwhile, THETA is the primary token and represents the platform’s value. THETA, like most alt, shows strength following a massive fall from above $10 in 2021 September to lows of around $2 in 2022 March. Recently, the token overturned a resistance trend-line to support and test the area to confirm more uptrends.
THETA has its immediate targets at $4.3, then $4.7. Flipping $5.95 resistance will establish an upsurge for the token. The altcoin should keep the higher level to prevent a return to a constricted triangle that converges around $3 and a possible triple bottom near $2.25 before reversals emerge.
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