Daily Analysis: BTC, ETH, LINK, RNDR, RON

Bears have an edge on the markets today as shown by the global market cap which has recorded a 0.75% decrease in the last 24 hours to take the total market cap to 1.65T as of press time. The trading volume has however jumped by 7% over the same period.

Bitcoin Price Analysis

Bitcoin has failed to gain today as bears now dominate with the Bitcoin price standing at $42.9K as of press time representing a 0.95% drop over the last 24 hours. The trading volume has, however, jumped by a mild 0.3% within the same period to $22.7B as of press time.

An in-depth analysis of 24-hour BTC/USD charts shows that bulls are now gaining 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 backing the bullish prospects. The MACD on the other hand is moving in the green zone backing the bull prospects.

BTC 1-day chart | Source: TradingView

Ethereum Price Analysis

Ethereum (ETH) has managed to post some gains with the Ethereum price standing at $2338 as of press time representing a 1.1% pump over the last 24 hours. The trading volume has jumped by 10% within the same period to $10.4B 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 a crossover above 50.

ETH 1-day chart | Source: TradingView

Chainlink Price Analysis

Chainlink (LINK) is another gainer today with the Chainlink price standing at $15.8 as of press time representing a 5.2% pump over the last 24 hours. The trading volume has jumped by 36% within the same period to $697M as of press time.

Looking at an in-depth analysis of 24-hour LINK/USD charts, we see that bulls have control of Chainlink markets as seen from the MACD, which is currently in the green region, suggesting bullishness on LINK. The RSI is also on a northern trajectory suggesting bullish momentum on the Ethereum price, as it approaches the overbought region.

LINK 1-day chart | Source: TradingView

Render Price Analysis

Render (RNDR) is among the top gainers today with the Render price standing at $4.6 as of press time representing a 7.2% pump over the last 24 hours. The trading volume has doubled within the same period to $218M as of press time.

Looking at an in-depth analysis of 24-hour LINK/USDT charts, we see that bulls have control of Render markets as seen from the MACD, which is currently in the green region, suggesting bullishness on Render. The RSI is also on a northern trajectory suggesting bullish momentum on the Render price, as it approaches the overbought region.

RNDR 1-day chart | Source: TradingView

Ronin Price Analysis

Ronin (RON) is our last gainer today with the Ronin price standing at $2.75 as of press time representing a 5.5% pump over the last 24 hours. The trading volume has dropped by 33% within the same period to $21.7M as of press time.

Looking at an in-depth analysis of 24-hour RON/USDT charts, we see that bulls and bears are struggling for control of Ronin markets as seen from the MACD, which is currently reverting towards the red region, suggesting fading bullishness on RON. The RSI is also on a northern trajectory suggesting bullish momentum on the Ronin price, as it now moves in the overbought region.

RON 1-day chart | Source: TradingView

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