Crypto Market Update as of September 28: Bullish Trends in Bitcoin, Ethereum, Terra, Chainlink, and Bitcoin Cash Prices
Crypto News – Today, the cryptocurrency markets are showcasing strong bullish activity, with the global market cap marking a 1.81% increase over the previous 24 hours. The total market capitalization currently stands at $1.06 trillion at the time of this report. However, fear still holds sway over the market, with the fear and greed index at 38.
Bitcoin Price Analysis
Bitcoin (BTC) is experiencing a minor bearish trend, with the price standing at $26.4K as of now. This reflects a daily decrease of 0.62% and a weekly drop of 2.3%. Despite the dip in Bitcoin’s price, the token’s trade volume surged by 72% during the same period, reaching $12.6 billion.
The Bollinger bands for Bitcoin are maintaining proximity, indicating stable volatility levels in its price. The Relative Strength Index (RSI) is trending below the average line, showcasing the ongoing efforts of the bulls for a potential recovery. Moreover, the Moving Average Convergence Divergence (MACD) is in the green zone, suggesting some bullish effects on Bitcoin’s price.
Ethereum Price Analysis
Ethereum (ETH) is also benefiting from the bullish sentiment, with its price at $1610, representing a daily increase of 1.16%. The weekly drop for Ethereum stands at 0.6%. The trade volume for ETH saw a notable 85% increase during the same period, amounting to $6.1 billion.
The Bollinger bands for Ethereum are currently exhibiting a close movement, signifying consistent volatility levels in its price. The Relative Strength Index (RSI) has surpassed the average line, reflecting the bullish momentum as bulls strive for dominance in Ethereum’s price. Additionally, the MACD is in the green zone, indicating a prevailing bullish trend for Ethereum.
Terra Price Analysis
Terra (LUNA) is experiencing a significant bullish surge, with the price standing at $0.5161. This marks a daily increase of 19.5%, contributing to a weekly rise of 32%. LUNA’s trade volume surged by an impressive 460% during the same period, reaching $316.5 million.
The Bollinger bands for Terra are diverging, indicating increasing volatility levels in its price. The Relative Strength Index (RSI) has entered the overbought region, highlighting the dominance of bulls in Terra’s price. Additionally, the MACD is in the green zone, reaffirming the bullish momentum in Terra’s price.
Chainlink Price Analysis
Chainlink (LINK) is also observing a bullish trend, with its price at $7.64, reflecting a daily increase of 3.8%. The weekly rise for LINK stands at 11.9%. The trade volume for LINK has surged by 110% during the same period, amounting to $389.2 million.
The Bollinger bands for Chainlink are diverging, indicating an increase in volatility levels for its price. The Relative Strength Index (RSI) is now close to the overbought region, showcasing the dominance of bulls in Chainlink’s price. Additionally, the MACD is in the green zone, further emphasizing the prevailing bullish trend for Chainlink.
Bitcoin Cash Price Analysis
Bitcoin Cash (BCH) is also experiencing a bullish trend, with its price at $233.99. This reflects a daily increase of 8.8%, contributing to a remarkable weekly rise of 180%. The trade volume for BCH surged by 180% during the same period, reaching $471 million.
The Bollinger bands for Bitcoin Cash are slightly diverging, indicating a gradual increase in volatility levels for its price. The Relative Strength Index (RSI) is now above the average line and close to the overbought region, indicating the bullish dominance in Bitcoin Cash’s price. Furthermore, the MACD is in the green zone, reinforcing the prevailing bullish momentum in Bitcoin Cash’s price.
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