Today’s session has kicked off with some bear effect as the global market cap recorded a 0.66% decrease within a day, as the market cap now stands at $1.05T. The fear and greed index has dropped to 34 as fear continues to creep over markets.
Bitcoin (BTC) analysis
Bitcoin (BTC) is still facing mild bear activity as the asset trades at $26.04K after recording a daily decrease of 0.08% and a weekly decrease of 11.2%. However, Bitcoin’s trade volume has spiked by 40% during the same period and is presently at $12.9B.
The Bollinger bands are still diverging, indicating that the volatility of Bitcoin is still high as the Relative Strength Index (RSI) still moves below its average level in the oversold region, as bear effects remain felt ahead of the recent dip.
Ethereum (ETH)analysis
Ethereum (ETH) is also seeing some bear activity as the asset now sits on losses of 0.6% within a day of trading, taking it to $1661 as the trading volume dropped by 19% to now sit at $4.7B as of press time. ETH’s volatility levels are still high as the Bollinger bands maintain a divergence.
The RSI indicator is still below its average line in the oversold region, again showing bear effects on the market as the MACD indicator also moves in the red zone.
Orchid (OXT) analysis
OXT is having a tremendous session today as the asset now trades 6.5% above its previous 24-hour price, as the trading volume now sits on an increase of 137% within a day of trading to now sit at $37.5M.
However, OXT’s volatility levels are high as the Bollinger bands move far apart. At the same time, the RSI, currently below its average line, pushes for a shift above as the MACD approaches a cross-over to the green zone.
Bluzelle (BLZ) analysis
BLZ is having a tremendous session as the asset now trades 15% above its previous 24-hour price as it now holds a spot price of $0.1282, while the trading volume stands 254% above its previous 24-hour one, now at $138M.
BLZ’s volatility levels are now spiking as the asset’s Bollinger bands diverge from each other. At the same time, the RSI moves above its average line around the overbought region showing great bull dominance as the RSI also moves in the green zone.
Optimism (OP) analysis
OP is also having a bullish session today as the asset trades 5% above its previous 24-hour price, as it holds a spot price of $1.56, as the trading volume saw a 107% spike within a day of trade as it now stands at $142M.
The Bollinger bands are moving at a relatively close distance, meaning that OP’s volatility levels are low while the RSI moves above its average line showing great bull dominance. The MACD is also approaching a shift to the green zone.
Source: https://blockchainreporter.net/daily-analysis-btc-eth-oxt-blz-op/