Markets are on bull activity, with the global market cap sitting 1.33% above its previous 24-hour mark, as the total cap stands at $1.66T as of press time. The fear and greed index is 75, as greed dominates markets. The global trading volume is 6.5% up in 24 hours, at $75.2B as of press time.
Bitcoin Price Analysis
The Bitcoin price has plunged by 0.4% in the last 24 hours to trade at $43.5K. The Relative Strength Index indicator is moving south, showing bear activity on the Bitcoin price as it looks to continue its plunge in the near future.
The MACD indicator is also in the red zone, backing the prospects of a bearish short-term increase in the Bitcoin price. The Bollinger bands are converging towards each other, showing low volatility levels on Bitcoin. This can be attributed to decreasing trading activities that have seen Bitcoin’s trade volume drop by 33% in the last 24 hours.
Ethereum Price Analysis
The Ethereum price has also plunged by 0.7% in the last 24 hours to trade at $2,293. The Relative Strength Index indicator is moving south, showing bearishness on the Ethereum price, bringing prospects of a dip in the short term.
The MACD indicator is, however, headed towards the green zone, showing prospects of a bullish short-term increase on Ethereum as bearishness fades.
Solana price analysis
The Solana price has jumped by 3% in the last 24 hours to trade at $96. The Relative Strength Index indicator is moving south as it approaches an exit from the overbought region, showing selling pressure on the Solana price as a price correction looms.
The MACD indicator is, however, in the green zone, bringing prospects of a continuous pump in the short term. The Bollinger bands are diverging, showing high volatility levels on Solana.
Avalanche price analysis
The Avalanche price has jumped by 2.4% in the last 24 hours to trade at $45.2. The Relative Strength Index indicator is moving south as it approaches an exit from the overbought region, showing selling pressure on the Avalanche as the price correction looms.
The MACD indicator is, however, in the green zone, bringing prospects of a continuous pump in the short term. The Bollinger Bands are moving far apart from each other, showing high volatility levels on Avalanche.
BNB price analysis
The BNB price has jumped by a slight 0.47% in the last 24 hours to trade at $269. The Relative Strength Index indicator is moving south as it approaches it now exits the overbought region. This shows selling pressure on BNB as the price correction looms.
The MACD indicator is also reverting towards the red zone, showing fading bullishness. The Bollinger Bands are moving far apart from each other, showing high volatility levels on BNB. These levels will likely decrease in the short term as a result of decreasing trading activities that have seen BNB’s trading volume drop by 32% in the last 24 hours.
Source: https://blockchainreporter.net/daily-analysis-btc-eth-sol-avax-bnb/