Crypto News- December 13 Crypto Analysis: Today, the markets are experiencing a subtle surge in bullish activity, with the global market cap inching 0.51% above its previous 24-hour mark, currently resting at $1.58 trillion as of the latest update. Greed appears to be fading, as reflected by the fear and greed index standing at 74. The global trading volume has surged by 12% within the past 24 hours, reaching $79.6 billion at the time of this report.
December 13 Crypto Analysis: BTC, ETH, ADA, BNB, AVAX
Taking a closer look at Bitcoin (BTC), it is currently navigating bearish trends, with the price settling at $41.2K, marking a 1.5% decrease in the daily and a 5.9% drop in the weekly records. This has led to a 24% decline in Bitcoin’s trade volume over the same period, now standing at $24.3 billion. Notably, the Bollinger bands indicate substantial volatility in the Bitcoin price, and the Relative Strength Index (RSI) positions below the average line, signifying bear dominance in today’s market.
Ethereum (ETH) is also experiencing a mild bearish trend, with the current price at $2,181, reflecting a 2.1% daily decrease and a 4% weekly drop. The trade volume for Ethereum has seen a 12% reduction over the week, reaching $12.2 billion. Similar to Bitcoin, Ethereum exhibits high volatility levels, as indicated by the widely spaced Bollinger bands. The RSI is below the average line, signaling bearish control over the Ethereum price.
In contrast, Cardano (ADA) is enjoying bullish momentum, with the price standing at $0.5872, marking a 5.5% daily increase and an impressive 46% weekly rise. Despite a 2.7% dip in trade volume, currently at $1.1 billion, Cardano demonstrates high volatility levels according to the Bollinger bands. The RSI is in the overbought region, positioned above the average line, indicating bullish dominance in the Cardano market.
BNB (BNB) is experiencing a slight bullish trend, with the price reaching $249.4, reflecting a 0.1% daily increase and a 7% weekly rise. The trade volume for BNB has decreased by 10%, currently at $1.3 billion. Bollinger bands indicate high volatility, and the RSI is above the average line, suggesting a bullish hold on the BNB price.
On the other hand, Avalanche (AVAX) is currently facing bearish activity, with the price at $35.97, showing a 12.6% daily decrease as it undergoes corrections following a notable 37% rise in the last seven days. Despite a 34% reduction in trade volume to $2 billion, the Bollinger bands still reflect high volatility. Surprisingly, the RSI is in the overbought region, suggesting continued bullish activity on the Avalanche price despite today’s downturn.
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