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11/06/2023

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Daily Analysis: BTC, ETH, BNB, XRP, ADA - ELEVENEWS

Markets have started the week on a bearish note, with the global market cap sitting 0.35% below its previous 24-hour mark, as the total cap stands at $1.32T as of press time. The fear and greed index is at...

Daily Analysis: BTC, ETH, BNB, XRP, ADA - ELEVENEWS

Markets have started the week on a bearish note, with the global market cap sitting 0.35% below its previous 24-hour mark, as the total cap stands at $1.32T as of press time. The fear and greed index is at 73, as greed still dominates. The global trading volume is 25% up in 24 hours, at $37.9B as of press time.

Bitcoin price analysis

Bitcoin (BTC) has started on slight bear activity, as Bitcoin price stood at $34.98K as of press time after recording a daily decrease of 0.27% and a weekly rise of 1.58%. As a result of the Bitcoin price, the token’s trade volume jumped by 28% during the same period and is presently at $12.4B.

The Bollinger bands are wide apart, showing high volatility levels on Bitcoin Price. The Relative Strength Index (RSI) is below the average line, showing some bear activity on Bitcoin price.

BTC 1-day price chart | Source: TradingView

Ethereum price analysis

Ethereum (ETH) has started on minor bull activity, as Ethereum price stood at $1885 after recording a daily increase of 0.25%, as the weekly rise now stands at 3.4%. ETH’s trade volume jumped by 48% during the same period and is presently at $8.1B.

The Bollinger bands are far apart, showing high volatility levels on Ethereum Price as the Relative Strength Index (RSI) is below the average line, showing some activity on Ethereum price despite the mild gain.

ETH 1-day price chart | Source: TradingView

BNB price analysis

BNB (BNB) has also started on bull activity, as BNB price stood at $244.3 after recording a daily increase of 0.77%, as the weekly rise now stands at 7.1%. BNB’s trade volume jumped by 14% during the same period and is presently at $352M.

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

BNB 1-day price chart | Source: TradingView

Ripple price analysis

Ripple (XRP) has also started on bull activity, as Ripple price stood at $0.68 after recording a daily increase of 9.5%, as the weekly rise now stands at 22.6%. XRP’s trade volume jumped by 164% during the same period and is presently at $2.5B.

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

XRP 1-day price chart | Source: TradingView

Cardano price analysis

Cardano (ADA) has also started on bull activity, as Cardano price stood at $0.34 after recording a daily increase of 3.8% and the weekly rise now stands at 16.9%. ADA’s trade volume jumped by 56% during the same period and is presently at $325M.

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

ADA 1-day price chart | Source: TradingView

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