Analytics

Daily Analysis: BTC, ETH, SOL, AVAX, TIA

Bears still have control of the markets, as seen from the global market cap, which has dropped by 1.5% from its previous 24-hour one, as the total cap stood at $1.55T as of press time. The fear and greed index is 50, as the market sentiment remains neutral.

Bitcoin Price Analysis

Bulls are pushing for a recovery on the crypto king, with the Bitcoin price at $39.9K as of press time, representing a 0.6% increase in the last 24 hours to bring the weekly drop to 6.5%. Bitcoin’s trading volume has jumped by 6% over the same period to stand at $39.9B.

An in-depth analysis of 24-hour BTC/USD charts reveals bulls are now in control. This is seen from the Relative Strength Index which is on a northern trajectory, showing bull action on BTC. The MACD indicator, on the other hand, is reverting towards the green zone, showing bull action on the Bitcoin price as well.

BTC 1-day chart | Source: TradingView

Ethereum Price Analysis

Ethereum (ETH), the altcoin king, has, however, failed to post gains as the Ethereum price stood at $2236 as of press time, representing a 3% decrease in the last 24 hours as the weekly drop stood at 12.6%. The trading volume has jumped by 27% to $16.7B.

An in-depth analysis of 24-hour ETH/USD charts also shows that bears control ETH markets, as shown by the Relative Strength Index indicator, which is currently on a southern trajectory. This asserts selling pressure on the Ethereum price. On the other hand, the MACD indicator is moving in the red zone, backing bearish prospects on the Ethereum price.

ETH 1-day chart | Source: TradingView

Solana Price Analysis

Solana (SOL) is another gainer today as the SOL price stood at $86 as of press time, representing a 3.6% increase in the last 24 hours as the weekly drop stood at 12%. The trading volume has jumped by 24% to $3.2B.

An in-depth analysis of 24-hour SOL/USD charts also shows that bulls are regaining control of SOL markets, as shown by the Relative Strength Index indicator, which is currently on a northern trajectory. This asserts buying pressure on the Solana price. On the other hand, the MACD indicator is moving in the red zone, backing bearish prospects on the Solana price.

SOL 1-day chart | Source: TradingView

Avalanche Price Analysis

Avalanche (AVAX) is another gainer today as the AVAX price stood at $30.5 as of press time, representing a 3.6% increase in the last 24 hours as the weekly drop stood at 12%. The trading volume has jumped by 24% to $3.2B.

An in-depth analysis of 24-hour AVAX/USD charts also shows a struggle between bulls and bears for AVAX markets, as shown by the Relative Strength Index indicator reverting from its northern trajectory. This asserts bear action on the Avalanche price. On the other hand, the MACD indicator is moving towards the green zone, showing bullish prospects on the Avalanche price as well.

AVAX 1-day chart | Source: TradingView

Celestia Price Analysis

Celestia (TIA) is our last gainer today as the Celestia price stood at $86 as of press time, representing an 8.7% increase in the last 24 hours as the weekly drop stood at 10%. The trading volume has jumped by 51% to $305M.

An in-depth analysis of 24-hour TIA/USD charts also shows a looming pull back, as shown by the Relative Strength Index indicator, which is deviating from its northern trajectory. This asserts building bear pressure on the Solana rice. On the other hand, the MACD indicator is moving in the red zone, backing bearish prospects on the Solana price.

TIA 1-day chart | Source: TradingView

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