Crypto News– Daily crypto assessment, bullish sentiment has once again taken hold of the markets, propelling the global market capitalization to a 0.62% increase over the previous 24 hours. The total market cap currently remains at $1.05 trillion at the time of writing.
Daily Crypto Assessment: Bitcoin (BTC), Ethereum (ETH), ArbiSmart (ARB), Thorchain (RUNE), Aave (AAVE)
The fear and greed index currently stands at 39, indicating that the market is still operating under a fear index.
Bitcoin Price Analysis
Bitcoin (BTC) has kicked off a bullish streak, with its price currently at $26.9K at the time of writing, marking a daily surge of 2.2% and a weekly rise of 1.1%. This uptick in Bitcoin’s price has led to a 12% increase in its trading volume, which now stands at $14 billion.
The Bollinger Bands continue to exhibit tight proximity, indicating consistent volatility levels for Bitcoin’s price. The Relative Strength Index (RSI) has climbed above the average line, signaling the prevailing bullish sentiment. Additionally, the Moving Average Convergence Divergence (MACD) has entered the green zone, affirming the bullish influence on Bitcoin’s price.
Ethereum Price Analysis
Ethereum (ETH) is also riding the wave of bullish activity, with its price currently at $1,652 at the time of writing. This marks a daily increase of 2.77%, and the weekly rise now stands at 3.7%. ETH’s trading volume has also surged by 6% during the same period, reaching $6.41 billion.
The Bollinger Bands are now diverging, signaling an uptick in volatility levels for Ethereum’s price. The Relative Strength Index (RSI) has risen above the average line, indicating the prevailing bullish sentiment driving Ethereum’s price higher. Additionally, the Moving Average Convergence Divergence (MACD) has entered the green zone, providing further confirmation of the bullish dominance in Ethereum’s price.
Arbitrum Price Analysis
Arbitrum (ARB) is also enjoying a surge in bullish activity, with Arbitrum’s price currently standing at $0.8961 at the time of writing. This reflects a daily increase of 9.2%, and the weekly rise now amounts to 7.55%. ARB’s trading volume has seen a remarkable spike of 108% during the same period, reaching $160 million.
The Bollinger Bands are currently converging, indicating a reduction in volatility levels for Arbitrum’s price. The Relative Strength Index (RSI) has surpassed the average line, underscoring the dominance of bulls in the Arbitrum price movement, while the Moving Average Convergence Divergence (MACD) resides in the green zone, further confirming the bullish momentum.
THORChain Price Analysis
THORChain (RUNE) is currently benefiting from a bullish surge, with RUNE’s price standing at $1.92 at the time of writing. This represents a daily increase of 9.6%, and the weekly rise now stands at 7.6%. RUNE’s trading volume has also seen a notable uptick of 13% during the same period, reaching $77 million.
The Bollinger Bands are presently diverging, indicating an increase in volatility levels for RUNE’s price. The Relative Strength Index (RSI) has climbed above the average line, underscoring the dominance of bulls in the THORChain price movement. Additionally, the Moving Average Convergence Divergence (MACD) has transitioned into the green zone, affirming the presence of bullish activity in RUNE’s price.
Aave Price Analysis
Aave (AAVE) is also experiencing a surge in bullish activity, with Aave’s price currently at $66.32 at the time of writing. This reflects a daily increase of 8.9%, and the weekly rise now stands at 4%. AAVE’s trading volume has witnessed a substantial jump of 63% during the same period, reaching $121.4 million.
The Bollinger Bands are presently diverging, signifying an uptick in volatility levels for Aave’s price. The Relative Strength Index (RSI) has moved above the average line and is approaching the overbought region, underscoring the dominance of bulls in the Aave price movement. Furthermore, the Moving Average Convergence Divergence (MACD) has shifted into the green zone, providing further confirmation of the bullish activity in Aave’s price.
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