Daily Analysis: BTC, ETH, MKR, DYDX, JOE
Markets have still started on slight bear activity today, with the global market cap recording a 0.61% decrease daily to take the total cap to $1.09T as of press time. The fear and greed index is still at 40, as neutrality strikes markets.
Bitcoin (BTC) analysis
Bitcoin (BTC) has encountered bear activity, trading at $26K after recording a daily decrease of 4.59%, as the weekly rise now stands at 0.02%. Bitcoin’s trade volume jumped by 40% during the same period, presently at $20.2B.
The Bollinger bands are converging, indicating that the volatility of Bitcoin is dropping. The Relative Strength Index (RSI) is still above its average line as bulls and bears struggle for dominance. The MACD also now moves in the green zone.
Ethereum (ETH) analysis
Ethereum (ETH) has also started today on bear activity, as the asset now sits on a drop of 3.4% within a day of trading to take it to $1646 as the trading volume jumped by 43% to take it to $6.7B as of press time. ETH’s volatility levels are also decreasing as the Bollinger bands converge.
The RSI indicator is still above the average as bulls and bears wrangle for dominance. The MACD indicator also moves in the green zone showing some bull dominance.
Maker (MKR) analysis
Maker (MKR) has however started today on bull activity, as the asset now sits on a gain of 7.4% within a day of trading to take it to $1145.9 as the trading volume jumped by 182% to take it to $149M as of press time. MKR’s volatility levels are also decreasing as the Bollinger bands appear to converge.
The RSI indicator is above the average as bulls push for total dominance. The MACD indicator also has shifted to the green zone showing bull dominance.
dYdX (DYDX) analysis
DYDX has however started today on bull activity, as the asset now sits on a gain of 0.6% within a day of trading to take it to $2.17 as the trading volume jumped by 110% to take it to $110M as of press time. DYDX’s volatility levels are also stable as the Bollinger bands appear to move close to each other.
The RSI indicator is above the average as bulls dominate. The MACD indicator is also approaching a shift to the green zone showing bull dominance.
JOE (JOE) analysis
JOE has however started today on bull activity, as the asset now sits on a gain of 25% within a day of trading to take it to $0.32 as the trading volume jumped by 1627% to take it to $186M as of press time. JOE’s volatility levels are also stable as the Bollinger bands move close to each other.
The RSI indicator is above the average and close to the overbought as bulls dominate. The MACD is also moving in the green zone showing bull dominance.