Crypto News– Market dynamics continue to reflect bullish momentum, as the global market capitalization remains 2.5% higher than its level in the previous 24 hours, maintaining a total of $1.11 trillion at the time of writing.
3 October Daily Analysis: BTC, ETH, CAKE, BSV, GALA, MNT
The fear and greed index currently registers at 47, signaling a prevailing sense of greed within the markets.
Bitcoin Price Analysis
Bitcoin (BTC) has initiated a bearish trend, with the price currently at $27.6K as of the latest update. This marks a 1.5% daily decline, although there is still a weekly gain of 5.1%. This shift in Bitcoin’s price has led to a notable 46% increase in trading volume, now standing at $18.1 billion.
The Bollinger Bands continue to exhibit divergence, signifying increased volatility levels for the Bitcoin price. Simultaneously, the Relative Strength Index (RSI) remains above the average line, indicating a bullish influence on the Bitcoin price despite the recent dip.
Ethereum Price Analysis
Ethereum (ETH) is currently experiencing a bearish phase, with its price at $1,668 following a daily decline of 3.2%. However, there is still a weekly increase of 4.9% in Ethereum’s price. Notably, ETH’s trading volume has surged by 27% during this period, now standing at $6.1 billion.
The Bollinger Bands are presently diverging, indicating heightened volatility levels in Ethereum’s price. Furthermore, the Relative Strength Index (RSI) remains above the average line, signifying bullish influences on Ethereum’s price, despite the drop observed today.
Pancake Price Analysis
Pancake (CAKE) is currently riding a bullish wave, with its price at $1.23 after registering a daily gain of 3.1%. Over the week, CAKE has seen a notable rise of 6.8%. The trading volume for CAKE has surged by 128% during this period, currently sitting at $44.9 million.
However, it’s worth noting that the Bollinger Bands are exhibiting proximity, indicating relatively low volatility levels in Pancake’s price. On the other hand, the Relative Strength Index (RSI) is trending above the average line, underscoring bullish dominance in Pancake’s price.
Bitcoin SV Price Analysis
Bitcoin SV (BSV) is currently experiencing a significant bullish surge, with its price at $40.98, marking an impressive daily gain of 14.75%. Over the week, BSV has witnessed a remarkable rise of 33%. The trading volume for BSV has skyrocketed by 224% during this period, now standing at $226.1 million.
The Bollinger Bands have fully diverged, signifying high volatility levels in Bitcoin SV’s price. Furthermore, the Relative Strength Index (RSI) is moving above the average line in the overbought region, underscoring complete bullish dominance in Bitcoin SV’s price.
Gala Price Analysis
Gala (GALA) is currently benefiting from a bullish trend, with its price at $0.01563, marking a daily increase of 3%. Over the week, GALA has experienced a substantial rise of 15.15%. The trading volume for GALA has also seen a 28% increase during this period, now totaling $71.7 million.
However, it’s worth noting that the Bollinger Bands are slightly converging, indicating a gradual rise in volatility levels in Gala’s price. Additionally, the Relative Strength Index (RSI) is significantly above the average line, highlighting bullish dominance in Gala’s price.
Mantle Price Analysis
Mantle (MNT) is currently experiencing modest bullish momentum, with its price at $0.411, reflecting a daily gain of 0.98%. Over the course of the week, MNT has seen a respectable rise of 4.8%. Trading volume for Mantle has also surged by 114% during this period, now standing at $50.3 million.
It’s worth noting that the Bollinger Bands are slightly converging, indicating a gradual increase in volatility levels for Mantle’s price. Additionally, the Relative Strength Index (RSI) is significantly above the average line, emphasizing the prevailing bullish sentiment in Mantle’s price.
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