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

Markets are on bear activity today, with the global market cap sitting 4.5% below its previous 24-hour mark, as the total cap stands at $1.56T as of press time. The fear and greed index is 80, as greed now dominates. The global trading volume is 16% down in 24 hours, at $67.6B as of press time

Bitcoin Price Analysis

Bitcoin (BTC)), the crypto king, is riding on bear activity, as the Bitcoin price stood at $42,087 as of press time after recording a daily decrease of 4.3% and a weekly rise of 1.5%. As a result of the Bitcoin price, the token’s trade volume jumped by 61% during the same period and is presently at $25.6B.

The Bollinger bands are diverging, showing high volatility levels on the Bitcoin price. The Relative Strength Index (RSI) is below the average line as it exits the overbought region, showing bear dominance on the Bitcoin price in today’s session.

BTC 1-day chart | Source: TradingView## Ethereum Price Analysis

Ethereum (ETH) is also riding on bear activity, as the Ethereum price stood at $2,234 as of press time after recording a daily decrease of 5% and a weekly drop of 0.31%. As a result of the Ethereum price, the token’s trade volume jumped by 34% during the same period and is presently at $12.8B.

The Bollinger bands are diverging, showing high volatility levels on the Ethereum price. The Relative Strength Index (RSI) is below the average line as it also exits the overbought region, showing bear dominance on the Ethereum price.

ETH 1-day chart | Source: TradingView## Avalanche Price Analysis

Despite the general market dip, Avalanche (AVAX) defied the odd pumping by 6.3% to trade at $34.53 as of press time, with the weekly rise now at 51.8%. As a result of the Avalanche price, the token’s trade volume jumped by 67% during the same period and is presently at $2.4B.

The Bollinger bands are diverging, showing high volatility levels on the Avalanche price. The Relative Strength Index (RSI) is above the average line in the overbought region, showing bear dominance on the Avalanche price.

AVAX 1-day chart | Source: TradingView## Solana Price Analysis

Solana (SOL) has not escaped today’s downtrend, as the Solana price stood at $68.3 as of press time after recording a daily decrease of 5.3% and a weekly rise of 6.5%. As a result of the Ethereum price, the token’s trade volume jumped by 34% during the same period and is presently at $12.8B.

The Bollinger bands are diverging, showing high volatility levels on the Solana price. The Relative Strength Index (RSI) is below the average line as it exits the overbought region, showing bear dominance on the Solan price.

SOL 1-day chart | Source: TradingView## Chainlink Price Analysis

Chainlink (LINK) is also riding today’s bear wave, as the Chainlink price stood at $14.86 as of press time after recording a daily decrease of 8.1% and a weekly rise of 8%. As a result of the Chainlink price, the token’s trade volume jumped by 27% during the same period and is presently at $930M.

The Bollinger bands are converging, showing low volatility levels on the Chainlink price. The Relative Strength Index (RSI) is below the average line, showing bear dominance on the Chainlink price.

LINK 1-day chart | Source: TradingView