Daily Analysis: BTC, ETH, TIA, BNB, DOGE
The weekend is ending on a slow momentum, with markets consolidating. This is seen from the global market cap, which has only increased by 0.08% compared to its previous 24-hour value, reaching $1.64T. The fear and greed index currently stands at 57, indicating greed dominating the market sentiment.
Bitcoin (BTC) has shown only a mild recovery, with the price reaching $41.7K as of press time. This represents a 0.7% increase in the last 24 hours, although the weekly drop reached 2.4%. Bitcoin’s trading volume has significantly dropped by 56% to $9.8B during the same period.
An in-depth analysis of the 24-hour BTC/USD charts reveals a bullish dominance. The Relative Strength Index (RSI) indicator is moving in an upward direction, indicating a bullish momentum for BTC. Additionally, the Moving Average Convergence Divergence (MACD) indicator is approaching the green zone, indicating a lack of bearish pressure on the Bitcoin price.
Ethereum (ETH) has also posted minor gains, as the price stands at $2477 as of press time, representing a 0.4% increase in the last 24 hours. However, like Bitcoin, ETH has also experienced a weekly drop of 2.4%. The trading volume has dropped by 52% to $4.6B.
An in-depth analysis of the ETH/USD charts shows a struggle between bulls and bears for the ETH market. The RSI indicator is currently on an upward trajectory, indicating bullish pressure on the Ethereum price. However, the MACD indicator has shifted to the red zone, suggesting bearish prospects for ETH.
Celestia (TIA) has also seen minor gains, with the price reaching $17.4 as of press time. This represents a 0.9% increase in the last 24 hours, although the weekly drop stands at 10.5%. The trading volume has dropped by 69% to $89M.
Taking an in-depth look at the TIA/USDT charts, it appears that there may be a pullback in the Celestia price. The RSI indicator is currently on a downward trajectory, indicating bearish pressure on TIA. Additionally, the MACD indicator is moving in the red zone, supporting the bearish prospects for Celestia.
BNB (BNB) has shown a 1.4% increase in the last 24 hours, with the price reaching $318 as of press time. The weekly rise stands at 4.8%, while the trading volume has dropped by 22% to $698M.
An in-depth analysis of the BNB/USDT charts suggests that bulls are currently in control of the market. The RSI indicator is on an upward trajectory, heading towards the overbought region, indicating strong bullish pressure on BNB. The MACD indicator is also reverting towards the green zone, further backing the bullish prospects for BNB.
Dogecoin (DOGE) has been the top gainer, with a 10% increase in the last 24 hours, bringing the weekly rise to 4.4%. The trading volume has seen a significant jump of 254% to $1.2B.
A closer look at the DOGE/USDT charts indicates that bulls are dominating the market. The RSI indicator is currently above 50, indicating bullish pressure on DOGE, with the token still having room to become overbought. Additionally, the MACD indicator has shifted to the green zone, further supporting the bullish prospects for Dogecoin.
Overall, Bitcoin, Ethereum, BNB, and Dogecoin have shown signs of recovery and bullish momentum, while Celestia has experienced a slight pullback. However, market conditions remain volatile, and investors should closely monitor the price movements and trading volumes to make informed decisions.