Bitcoin analysis
This week has been turbulent for most cryptocurrencies, with many facing new resistance at new levels. Bitcoin (BTC) has had a quiet week, down 0.7% from its previous weekly price, with a price of $30.2K as of press time as the cryptocurrency continues encountering resistance at the $31K mark. As the Bollinger bands approach each other, weekly volatility in Bitcoin prices has also decreased. The RSI’s current position shows the bears’ struggle to control BTC as it approaches a shift below the average line.
Ethereum analysis
Ethereum (ETH) has also had a sluggish week, with prices now at $1867, down 2.6% from the previous week’s. This puts it in the red against the dollar and below the $1.9K mark.
The weekly volatility of ETH decreases as the Bollinger bands approach each other. Moving below the average line, the RSI shows that sellers are gaining ground in the ETH market. Until now, bulls have been signalled to be in charge by the MACD indicator, but even that indication is close to swinging to the opposing side.
Filecoin (FIL) analysis
FIL has also had a tremendous session today as the asset now boasts gains of 8% within a week’s trade, as the asset now trades at $4.36 ahead of what has been a fruitful week. Filecoin’s volatility levels are, however, at their lowest as the Bollinger bands now move at a very close distance.
The RSI has just crossed its average line as the MACD moves closer to the average line, indicating an increasing struggle between bulls and bears for market dominance.
Solana (SOL) analysis
This week has been quite profitable for Solana investors, as the asset’s weekly gain was at 12% as of the time of this publication. This week has been rather eventful regarding market activity for Solana, as the stock has occasionally shown signs of spikes.
On the other hand, the levels of volatility shown by Solana are dropping as the Bollinger bands converge, which indicates a reduction in the levels of volatility. As the MACD indicator also goes high in the positive zone, it is clear that bulls are in control of SOL as the RSI climbs higher than the line that represents the average price.
Bone ShibaSwap (BONE) analysis
BONE has had extraordinary surges this week as the asset now sits on gains of 49% within a 7-day trading period to take its price to $1.42 as it now ranks at position #96 on CoinMarketCap. BONE’s trading volume stood at 21.37M as of press time.
However, BONE’s weekly volatility levels are high as the asset’s Bollinger bands move far away from each other, indicating high volatility. The RSI indicator is also above its average as the asset’s bulls now dominate, with the MACD indicator shifting to the positive side.
Other notable gainers of the week are Avalanche (AVAX), which has gained 8% within a week to take its price to $14 as of press time. Toncoin (TON) has also made tremendous gains in today’s session, gaining 2% in a day’s trading to take its price to $1.37.
