Daily Analysis: BTC, ETH, LINK, IMX, OP

Bulls and bears are struggling for dominance in todays session as shown by the global market cap which has recorded a slight 0.05% decrease in the last 24 hours to take the total market cap to 1.64T as of press time. The global trading volume has however jumped by 22.16% over the same period.

Bitcoin Price Analysis

Bitcoin has recorded a slightly bear session today with the

standing at $42.7K as of press time representing a 2% pump over the last 24 hours. The trading volume has, however, dropped by 22% within the same period to $19.8B as of press time.

An in-depth analysis of 24-hour BTC/USD charts shows that bulls and rs are struggling for control of the BTC markets. This is seen as the Relative Strength Index indicator, (RSI), which now appears to be headed north as it crosses above 50, showing bullish prospects. The MACD on the other hand is moving towards the red zone, showing bear prospects well.

Ethereum Price Analysis

Ethereum (ETH) has managed to post some gains with the

standing at $2322 as of press time representing a 0.61% pump over the last 24 hours. The trading volume has jumped by 27% within the same period to $7.5B as of press time.

Looking at an in-depth analysis of 24-hour ETH/USD charts, we see that bulls have control of Ethereum markets as seen from the MACD, which is currently reverting from the negative region towards the zero line, suggesting fading bearishness on ETH. The RSI is also on a northern trajectory suggesting bullish momentum on the Ethereum price, as it approaches 50.

Chainlink Price Analysis

Chainlink (LINK) is another gainer today with the Chainlink price standing at $18.97 as of press time representing a 1.1% pump over the last 24 hours. The trading volume has jumped by 12% within the same period to $966M as of press time.

Looking at an in-depth analysis of 24-hour LINK/USD charts, we see that bulls are losing grip on Chainlink markets as seen from the MACD, which is reverting towards, suggesting fading bullishness on LINK. The RSI is also on a southern trajectory as it exits the over-bought region, suggesting selling pressure on the Chainlink price.

Immutable Price Analysis

Immutable (IMX) is another gainer today with the Immutable price standing at $2.25 as of press time representing a 5.2% pump over the last 24 hours. The trading volume has jumped by 57% within the same period to $110M as of press time.

Looking at in-depth analysis of 24-hour LINK/USD charts, we see that bulls are losing grip on Immutable markets as seen from the MACD, whose histograms are flattening out from their increasing sizes, suggesting fading bullishness on IMX. The RSI has also reverted to a southern trajectory, suggesting selling pressure on the Immutable price as corrections loom.

Optimism Price Analysis

Optimism (OP) is our last gainer today with the Optimism price standing at $3.25 as of press time representing a 6.3% pump over the last 24 hours. The trading volume has jumped by 68% within the same period to $218M as of press time.

Looking at an in-depth analysis of 24-hour OP/USD charts, we see that bulls have a grip on Optimism markets as seen from the MACD, which is currently in the green zone, suggesting bullishness on OP. The RSI is also on a northern trajectory, suggesting selling pressure on the Optimism price as corrections loom.