October 17 Crypto Analysis: BTC, ETH, XRP, BCH, BSV

Crypto News- October 17 Crypto Analysis: The cryptocurrency markets continue to ride the wave of bullish activity, fueled in part by the spread of false news regarding Blackrock’s ETF proposal gaining approval. The global market capitalization is currently 1.15% higher than its level 24 hours ago, with a total market cap of $1.08 trillion at the time of this update. The fear and greed index remains at 41, signifying market neutrality. Global trading volume has surged by 249% over the past 24 hours, reaching $54.6 billion.

October 17 Crypto Analysis: BTC, ETH, XRP, BCH, BSV

Bitcoin Price Analysis:

Bitcoin (BTC) has initiated a bullish trend today, with its price sitting at $28.1K at the time of this update. It has seen a daily increase of 1% and a weekly rise of 1.93%. Consequently, the token’s trade volume has surged by 125% during this same period, now standing at $25.8 billion.

The Bollinger bands are currently converging, indicating relatively low volatility levels in the Bitcoin price. The Relative Strength Index (RSI) is trending above the average line, suggesting bullish activity in the Bitcoin price.

Ethereum Price Analysis:

Ethereum (ETH) is also experiencing a mild bullish trend, with its price at $1,584 after a daily increase of 0.37%. However, the weekly performance shows a slight drop of 0.2%. ETH’s trade volume has grown by 84% over the same period, reaching $8.1 billion.

The Bollinger bands are now diverging, reflecting higher volatility levels in Ethereum’s price, while the Relative Strength Index (RSI) is above the average line, signaling bullish effects on Ethereum’s price.

Ripple Price Analysis:

Ripple (XRP), on the other hand, is witnessing some bearish activity after a bullish run in the previous day. XRP’s price currently stands at $0.4897, showing a daily decrease of 0.3% and a weekly drop of 1.8%. The trade volume for XRP has increased by 71% during the same period, totaling $1.01 billion.

The Bollinger bands are slightly diverging, indicating rising volatility levels in XRP’s price, while the Relative Strength Index (RSI) has moved below the average line, suggesting bearish action on Ripple’s price.

Bitcoin Cash Price Analysis:

Bitcoin Cash (BCH) is experiencing a modest bullish trend, with its price at $226.7, reflecting a daily increase of 0.67%. The weekly gain for BCH is 3.37%, and its trade volume has surged by 168% in the same time frame, reaching $374.5 million.

The Bollinger bands for BCH are converging, showing relatively low volatility levels, while the Relative Strength Index (RSI) is trending above the average line, indicating bullish action on Bitcoin Cash’s price.

Bitcoin SV Price Analysis:

Bitcoin SV (BSV) is also riding a wave of bullish activity, following a similar trend from the previous day. BSV’s price stands at $37.9 after recording a daily increase of 1.8%. The weekly rise for BSV is an impressive 11.5%, and its trade volume has jumped by 216% over the same period, now at $218 million.

The Bollinger bands for BSV are diverging, pointing to increased volatility levels, while the Relative Strength Index (RSI) has moved below the average line, signaling bullish action on Bitcoin SV’s price.