Bulls have started on bull as the global market cap recorded a 2.2% increase within the last 24 hours as it stood at $1.69T, while the trading volume jumped by 8% in the last 24 hours to stand at $81.4B as of press time.
Bitcoin Price Prediction
Bitcoin (BTC) bulls are slowly awakening today to record a daily gain of 1.3%, as it traded at $43K as of press time. Despite the rise, Bitcoin is still 1.5% down from its previous seven-day price. The trading volume has also decreased within the last 24 hours by 5.5% to stand at $26.2B.
Looking at an in-depth analysis, the Bitcoin price is likely to face a bearish short term as shown by the Relative Strength Index indicator, which is currently moving south, showing selling pressure in the Bitcoin price. The MACD indicator is also moving in the red zone, backing the bearish prospects on Bitcoin.
Ethereum Price Prediction
Ethereum (ETH) is also pumping hard today to record a daily gain of 6%, as it traded at $2380 as of press time. Ethereum is now trading 7.4% above its previous seven-day price. The trading volume has also spiked by 88% to stand at $17.9B as of 24 hours.
The Relative Strength Index indicator suggests a bullish short term as it moves north, showing buying pressure. The MACD indicator has also shifted to the green zone, also backing the bullish prospects.
Bitcoin SV Price Prediction
Bitcoin SV (BSV) is among the top gainers as it records a daily gain of 60% to trade at $90.8 as of press time. Bitcoin SV is now 84% up from its previous seven-day price. The trading volume has also recorded a massive surge of over 500%, standing at $727 million.
The Bitcoin SV price is likely to continue this trend, as shown by the Relative Strength Index indicator, which is currently moving north, showing buying pressure as it moves in the overbought region. The MACD indicator is also high in the green zone, showing immense bull activity.
Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) is also riding on the Bitcoin narrative as it records a daily gain of 14%, as it traded at 271.7 as of press time. Bitcoin Cash is now 17% up from its previous seven-day price. The trading volume has also increased within the last 24 hours by 174% to stand at $791M.
Looking at in-depth analysis, the Bitcoin cash price is looking to continue pumping, as shown by the Relative Strength Index indicator, which is currently moving north as it approaches the overbought region. This shows buying pressure while the MACD indicator is also moving in the green zone, backing the bearish prospects on Bitcoin Cash price.
Arbitrum Price Analysis
Arbitrum (ARB) is another gainer today as it records a daily gain of 21.9%, to trade at $1.58 as of press time. Despite the rise, Arbitrum is still 41% up from its previous seven-day price. The trading volume has also increased within the last 24 hours by 213% to stand at $1.5B.
This increase in trading activities has seen a spike in volatility levels, as shown by the Bollinger Bands, which are currently diverging away from each other. The Relative Strength Index indicator is headed south as it enters the overbought region, giving prospects of a bullish short-term on the Arbitrum price.
Source: https://blockchainreporter.net/daily-analysis-btc-eth-bch-bsv-arb/