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Daily Crypto Market Analysis – BTC, ETH, SAND, RPL

The crypto markets are currently experiencing bearish sentiment, with the global market cap sitting 1.29% lower than its previous 24-hour level

by Alexander
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The crypto markets are currently experiencing bearish sentiment, with the global market cap sitting 1.29% lower than its previous 24-hour level, resting at $1.05 trillion. The Fear and Greed Index reflects growing fear among investors, standing at 39.

Bitcoin Price Analysis

Bitcoin (BTC) is showing signs of mild bearish activity, with its price at $26.5K as of the latest data, marking a slight 0.01% daily decrease. Over the past week, BTC has seen a modest rise of 0.32%. However, trade volume for the cryptocurrency has dropped by 29% during the same period, now standing at $9.8 billion.

BTC 1-day chart | Source: TradingView

The Bollinger Bands for Bitcoin are exhibiting proximity, indicating relatively stable volatility levels. The Relative Strength Index (RSI) is currently above the average line and appears poised for a potential crossover below it, reflecting the ongoing struggle between bulls and bears. The Moving Average Convergence Divergence (MACD) is situated in the green zone but approaching the red zone, suggesting some bearish influence on Bitcoin’s price.

Ethereum Price Analysis

Ethereum (ETH) is showing slight bullish momentum, with its price at $1593, reflecting a daily increase of 0.21%. Over the past week, ETH has experienced a 2.66% decline. ETH’s trade volume has also decreased by 39% during the same period, currently at $3.1 billion.

ETH 1-day chart | Source: TradingView

The Bollinger Bands for Ethereum are slightly diverging, indicating a rise in volatility levels. The RSI is currently below the average line but potentially moving towards a crossover above it, as bulls attempt to regain control. The MACD is in the green zone, suggesting minor bullish sentiment for Ethereum’s price.

The Sandbox Price Analysis

The Sandbox (SAND) is experiencing bullish activity, with its price at $0.3011, marking a daily increase of 2.2%. Over the past week, SAND has seen a 2.17% drop. Trade volume for SAND has decreased by 25% during the same period, now standing at $31 million.

SAND 1-day chart | Source: TradingView

The Bollinger Bands for The Sandbox are moving closer together, indicating lower volatility levels. The RSI is currently above the average line, signifying bullish dominance, and the MACD is in the green zone, pointing to slight bullish activity for The Sandbox’s price.

Rocket Pool Price Analysis

Rocket Pool (RPL) is also displaying bullish momentum, with a price of $21.28, reflecting a daily increase of 2.86%. Over the past week, RPL has experienced a 4.36% decline. RPL’s trade volume has decreased by 10% during the same period, currently at $3.4 million.

RPL 1-day chart | Source: TradingView

The Bollinger Bands for Rocket Pool are moving closer together, indicating lower volatility levels. The RSI, although currently below the average line, suggests potential bullish momentum, and the MACD is in the green zone, indicating bullish action for Rocket Pool’s price.

 

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