blockchainreporter.net
Bears are still dominating, with the global market cap decreasing by 0.2% within the last 24 hours of trade to stand at 1.66T as of press time. This shows bearish sentiment on the market as trading activities surged by 10% within the same period, indicating a volatile market.
Bitcoin Price Prediction
The Bitcoin price has again failed to post gains as it records a plunge of 0.5% in the last 24 hours to trade at $42.5K as of press time. This comes as the weekly drop stood at 0.9%. This plunge is likely to continue, as several indicators point out.
The Relative Strength Index indicator is below the average line as it heads south, pointing to a bearish short-term on the Bitcoin price. The MACD indicator is also in the red zone, backing the bullish prospects on Bitcoin.
Ethereum Price Prediction
The Ethereum price is also on bear activity as it recorded a plunge of 0.07% in the last 24 hours to trade at $2,226 as of press time. This comes as the weekly rise stood at 1% while the trading volume jumped by 7% in the last 24 hours, as global trading activities increased.
The Relative Strength Index indicator is also headed south as the MACD indicator also moves in the red zone. Both these indicate bear activity on Ethereum as selling pressure mounts.
Sei Price Analysis
The Sei price has managed to post gains despite today’s bearish trend. This comes as the token recorded a 6% increase within the last 24 hours to trade at $0.45 as of press time. The weekly rise is now at 20% as bulls dominated the token over the week.
However, despite this rise, the Sei price is at risk of facing corrections, as seen from indicators. The RSI is moving south as it exits the overbought region, showing mounting selling pressure. The SEI price is also volatile, as shown by the Bollinger Bands, which are currently diverging.
NEAR Protocol Price Analysis
NEAR Protocol has also fallen prey to the bearish sentiment as the NEAR price recorded a 2.8% decrease within the last 24 hours, and the weekly increase stood at 52% in the last seven days.
The Relative Strength Index indicator is, however, moving south, also pointing towards corrections in the short term. Looking at volatility, the Bollinger Bands are diverging, showing high volatility levels on the NEAR.
Perpetual Protocol Price Analysis
Perpetual Protocol (PERP) has also managed to post gains to appear among today’s top gainers as the token traded at $1.13 as of press time after recording a daily increase of 6% as the weekly rise stood at 48%.
However, despite this rise, the Perpi price is at risk of facing corrections, as seen from indicators. The RSI is moving south as it exits the overbought region, showing mounting selling pressure. The PER price is also volatile, as shown by the Bollinger Bands, which are currently diverging. This can be attributed to the surge in trading activities that has seen the trading volume jump by 736% within the last 24 hours.
