October 11 Cryptocurrency Analysis: BTC, ETH, XTZ, FLOW, BNB

Crypto News- As of today, bearish trends are still exerting their influence on the market, with the global market capitalization slightly below its 24-hour level, holding steady at $1.07 trillion at the time of writing. The fear and greed index stands at 43, signifying a prevailing state of neutrality in the markets.

October 11 Cryptocurrency Analysis: BTC, ETH, XTZ, FLOW, BNB

Bitcoin (BTC):

Bitcoin has once again entered a bearish phase, with its price now at $27.1K, representing a 1.9% daily decrease and a 0.99% drop for the week. The trading volume for BTC has also decreased by 4.8% during the same period, currently standing at $11.5B. The Bollinger bands are indicating increased volatility, and the Relative Strength Index (RSI) is pointing towards a bearish sentiment in Bitcoin’s price.

Ethereum (ETH):

Ethereum is also experiencing bearish trends, with its price at $1555 after a daily decrease of 2.12%. The weekly drop is even more substantial at 5.1%, and ETH’s trade volume has fallen by 22% during the same period, now at $5.6B. The Bollinger bands are showing divergence, indicating higher volatility, and the RSI is below the average line, reflecting a bearish dominance in Ethereum’s price.

Tezos (XTZ):

Tezos is encountering significant bearish activity, with a price of $0.668, resulting from a daily decrease of 8.6%. Despite a slight 0.43% weekly rise, XTZ’s trade volume has plummeted by 37% during the same period and is currently at $59.7M. The Bollinger bands are converging, signifying low volatility levels in Tezos’ price, and the RSI is below the average line, highlighting bearish influence.

Flow (FLOW):

Flow is also under bearish pressure, with a price of $0.4167 and a daily decrease of 1.3%. The weekly drop stands at 3.4%, while FLOW’s trade volume increased by 18% during this period, reaching $28.7M. The Bollinger bands are moving closer together, signaling lower volatility levels in Flow’s price, and the RSI is below the average line, indicating bearish control.

Binance Coin (BNB):

Binance Coin is also witnessing significant bearish trends, with a price of $206, following a daily decrease of 0.7% and a weekly drop of 2.7%. BNB’s trade volume increased by 3% during the same period, now at $459.4M. The Bollinger bands are converging, indicating low volatility levels in BNB’s price, and the RSI is also below the average line, showcasing bearish dominance in Binance Coin’s price.