Daily Analysis: BTC, ETH, AXS, DOGE, MKR

Crypto News– Today, the markets are experiencing bearish activity, with the global market cap resting 1.5% below its previous 24-hour level, currently standing at $1.4 trillion.

Daily Analysis: BTC, ETH, AXS, DOGE, MKR

The fear and greed index registers at 69, indicating a diminishing sense of greed. Over the past 24 hours, the global trading volume has surged by 16%, reaching $50.5 billion as of the latest update.

Bitcoin price analysis

Bitcoin (BTC) has entered a bearish trend, with the latest price standing at $37,000. This represents a daily decline of 0.67% and a weekly drop of 0.61%. Concurrently, the token’s trade volume has surged by 16% during this period, reaching $18.6 billion.

The closely positioned Bollinger Bands suggest low volatility levels in the Bitcoin price. Furthermore, the Relative Strength Index (RSI) is below the average line, indicating bearish activity in the Bitcoin market.

Ethereum price analysis

Ethereum (ETH) has entered a bearish phase, with the current price at $2,009, reflecting a daily decrease of 1.8%. Despite this, the weekly performance shows a modest rise of 0.07%. ETH’s trade volume has increased by 10% during the same period, reaching $10.3 billion.

The wide gap between the Bollinger Bands indicates high volatility levels in the Ethereum price. Additionally, the Relative Strength Index (RSI) is below the average line, signaling bearish activity in the Ethereum market.

Axie Infinity price analysis

Axie Infinity (AXS) has entered a bearish phase, with the current price at $6.65, reflecting a daily decrease of 1.8%. However, the weekly performance shows a positive rise of 8%. Despite today’s fall, AXS’s trade volume has dropped by 46% during the same period, now standing at $263 million.

The diverging Bollinger Bands indicate high volatility levels in the AXS price. Interestingly, the Relative Strength Index (RSI) is above the average line, suggesting bullish activity on the AXS price despite the decline observed today.

Dogecoin price analysis

Dogecoin (DOGE) has entered a bearish trend, with the current price at $0.077, reflecting a daily decrease of 4.6%. Despite this, the weekly performance shows a modest rise of 0.79%. DOGE’s trade volume has dropped by 12% during the same period, currently standing at $542 million.

The wide gap between the Bollinger Bands indicates high volatility levels in the Dogecoin price. Additionally, the Relative Strength Index (RSI) is below the average line, signaling bearish activity in the Dogecoin market.

Maker price analysis

Maker (MKR) has entered a bearish phase, with the current price at $1,460, reflecting a daily decrease of 2.9%. Despite this, the weekly performance shows a matching rise of 2.9%. MKR’s trade volume has dropped by 7.5% during the same period, currently at $89.8 billion.

The diverging Bollinger Bands indicate high volatility levels in the Maker price. Interestingly, the Relative Strength Index (RSI) is above the average line, suggesting bullish activity on the Maker price despite the dip observed today.