3/10 of the Top Cryptocurrencies Slightly Bullish: Are We Still in a Red Market?

Urian B., Tech Times 30 January 2022, 10:01 pm

With a lot of talk about how the value of cryptocurrency could go lower than it currently is, at least three out of the top ten cryptocurrencies have finally turned out bullish. The question remains as to whether or not the market is still bearish.

Bitcoin Top Gainer in the Last Seven Days Amongst Top 10 Cryptocurrencies

As seen on CoinGecko, the three out of the top ten cryptocurrencies have finally shown green lines. Although all of them are in the red for the 1h and 24h mark, their 7d mark shows a slight change in direction with USDC or the USD Coin showing a positive 1h performance and negative 24h and 7d mark.

Although this is not as significant as the massive double digits that happened in the past, a small shift in direction could provide a positive reaction for the market in general. Bitcoin ended up with a 1.9% gain over the last seven days. This is losing -2.7% in the past hour and -2.5% in the past 24 hours.

Ethereum in Second Place with Just a 0.3% Gain

Ethereum came in second with a positive seven day performance of 0.3% despite dropping -2.5% in the last hour and -1.3% during the last 24 hours. Following Ethereum is Tether, or USDT, which has had a flat 1 hour performance with a 0.1 increase in the last 24 hours and a 0.1% increase in the last seven days.

The Binance Coin, however, dropped in the last seven days by 3.6% with a -2.2% drop in the last hour and a -4.2% drop in the last 24 hours. As far as the USDC is concerned, the stablecoin only gained slight changes at 0.2% in the last hour, 0.0% in the last 24 hours, and -0.3% in the last seven days.

CoinGecko Says Polkadot while CoinMarketCap Says Terra

In sixth place is Cardano with a -2.1% drop in the last hour, a -3.5% drop in the last 24 hours, and a -9.2% drop in the last seven days. In seventh place is Solana which dropped by -2.7% in the last hour, -3.7% in the last 24 hours, and -8.8% in the last seven days.

The last three cryptocurrencies considered in the top ten are XRP, Polkadot, and Dogecoin. On CoinMarketCap, however, the sequence shown is different . XRP and Dogecoin in eighth and ninth place, respectively, and Terra's LUNA in tenth place despite dropping by a massive -35% in the last seven days.

Is the Bearish Cycle Over?

The ranking of these coins are still subject to change but, as seen in the data shown, it is too early to assume that the market is picking up again as the majority of cryptocurrencies remain bearish over the last seven days.

The list is still subject to change as the prices of these cryptocurrencies go up and down in value.

This article is owned by Tech Times

Written by Urian B.