Analysis

Weekly Analysis: BTC, ETH, SOL, LINK, DOT

Bitcoin price analysis

Ahead of yet another exciting week in the cryptocurrency world, bulls have dominated the previous one. This week has seen bull action for Bitcoin (BTC), with a weekly increase of 1.69% and a current price of $34.9K. As of press time, the market capitalization of Bitcoin was $682 billion, with a $12.3 billion trading volume.

The price of Bitcoin has been more volatile this week as the Bollinger bands have begun to somewhat diverge. Indicating bull domination throughout the course of the week, Bitcoin’s relative strength indicator is above its average line in the overbought area.

Ethereum price analysis

Bull activity has also been observed in Ethereum (ETH), with the asset’s weekly increase now totaling 3.5% and its price reaching $1,884. With a current trading volume of $8.12 billion, Ethereum has a $226 billion market capitalization.

Due to the Bollinger bands’ close proximity to one another, Ethereum price volatility has been minimal during the past week. The RSI indicator, which displays bull activity in the price of Ethereum, is above the average line.

Solana price analysis

Bull action has also been observed in Solana (SOL), with the asset’s weekly increase currently totaling 18% and its price at $40.12. Solana’s market capitalization is currently $16.8 billion, with $893 million in trading volume.

The price of Solana has experienced high levels of volatility this week due to a divergence in the Bollinger bands. Bull activity is evident in the price of Solana as the RSI indicator is above the average line.

Chainlink price analysis

Bull action has also been observed in Chainlink (LINK), with the asset’s weekly increase now totaling 10.4% and its price at $12.43. With a $6.9 billion market capitalization as of right now, Chainlink’s trading volume is $688 million.

Due to the Bollinger bands’ divergence, Chainlink’s price has experienced high levels of volatility this week. In the overbought area, the RSI indicator is above the average line, indicating bull activity on the price of Chainlink.

Polkadot price analysis

Polkadot (DOT) has also experienced bull activity this week; at $4.8, the asset’s weekly advance now stands at 11.6%. Polkadot’s market capitalization is currently $6.1 billion, with $205 million in trading volume.

Polkadot price volatility has been modest this week due to the Bollinger bands moving in close proximity to one another. The Polkadot price has been bullish during the past week, as indicated by the RSI indicator, which is above the average line.

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