Bears have taken control over markets during this festive period as the global market cap recorded a 0.66% decrease within the last 24 hours of trade to stand at 1.66T as of press time. The global trading volume has recorded a 9% increase within the last 24 hours to stand at $19.3 as of press time.
Bitcoin Price Prediction
The Bitcoin price has plunged by 1% in the last 24 hours to trade at $43.1K as of press time. This comes as the weekly rise stood at 5% while the trading volume jumped by 35% in the last 24 hours, showing increasing trading activities.
The Relative Strength Index indicator is below the average line, backing the bearishness prospects. The MACD indicator is also in the red zone, suggesting a continued plunge in the Bitcoin price in the short term as beard dominates markets.
Ethereum Price Prediction
The Ethereum price has also fallen prey to the bear activity, plunging by 1% in the last 24 hours to trade at $2,274 as of press time. This comes as the weekly rise stood at 5.2% while the trading volume dropped by 7% in the last 24 hours.
The Relative Strength Index indicator is however heade south, backing the prospects of a bullish short-term. The MACD indicator is also reverting towards the green zone, showing fading bearishness on the Ethereum price.
Moonriver Price Prediction
Moonriver (MOVR) as the token’s price also plunged by 8% in the last 24 hours to trade at $31.4 as of press time. This comes as the weekly rise stood at an impressive 402%. This plunge can be attributed to holders selling for profits amid the recent price pump, causing the correction.
The Relative Strength Index indicator is headed south as a result of the correction showing the selling pressure mounting on the token. Looking at volatility, the Moonriver price is currently volatile as shown by the Bollinger Bands which re currently diverging. This can be attributed to increasing trading activities that have seen MOVR’s trading volume jump by 95 in the last 24 hours.
Solana Price Prediction
The Solana price is also facing corrections having plunged by 2.8% in the last 24 hours to trade at $110.6 as of press time as it faces corrections from its recent pump that has seen the altcoin trade 61% above its previous 7-day price.
The Relative Strength Index indicator is headed south as it approaches an exit from the overbought region. This can be attributed to the mounting selling pressure amid the corrections. Volatility levels are also high with the Bollinger Bands now diverging.
THORChain Price Prediction
The THORChain price has also plunged by 0.5% in the last 24 hours to trade at $6.06 as of press time. This comes as the weekly rise stood at 15% while the trading volume jumped by 10% in the last 24 hours to stand at $448M.
The Relative Strength Index indicator is, however, above the average line, showing bull activity on the token despite today’s drop. The THORChain price is currently facing low volatility as the Bollinger Bands move close to each other. These levels are, however, likely to increase in the short term as a result of increasing trading activities that have seen the trading volume jumo by 10% in the last 24 hours.
Source: https://blockchainreporter.net/daily-analysis-btc-eth-movr-sol-rune/