Daily Analysis: BTC, ETH, LDO, BSV, SUI

Bulls are still struggling to take full grasp of markets. This is seen from the global market cap has jumped by a minor 0.07% from its previous 24-hour mark, as the total cap stands at $1.66T as of press time. The fear and greed index is 70, as greed creeps back in. The global trading volume is 2.6% down in 24 hours, at $79B as of press time

Bitcoin Price Analysis

Bitcoin (BTC) is among the gainers despite having seen minor bull activity. The Bitcoin price stood at $43.7K as of press time, representing a 0.21% increase in the last 24 hours as the weekly rise also stood at 3.9%. Bitcoin’s trading volume has, however, dropped by 22% to stand at $26.8B.

The future price trajectory for Bitcoin still looks bearish as the Relative Strength Index indicator heads south, now heading towards the midline, to show some selling pressure on BTC. The MACD indicator is also in the red zone, backing the bearish prospects, as the Bitcoin price looks to plunge in the short term.

BTC 1-day chart | Source: TradingView## Ethereum Price Analysis

Ethereum (ETH) has, however, succumbed to the bear action today as the Ethereum price stood at $2243 as of press time, representing a 0.27% decrease in the last 24 hours as the weekly drop stood at 2.6%. The trading volume has also dropped by 17% to stand at $9.5B.

Bears dominate ETH, as shown by the Relative Strength Index indicator, which is currently on a southern trajectory. At the same time, the MACD moves in the red zone, both asserting bear dominance on the Ethereum price, with a continuous plunge in the short term now inevitable.

ETH 1-day chart | Source: TradingView## Lido DAO Price Analysis

Lido DAO(LDO) has, however, defied the odds to post gains as the Lido DAO price stood at 3.37 as of press time, representing a 9.7% increase from its previous 24-hour price as the weekly increase stood at 14.6%. The trading volume has also dropped by 16% to stand at $255M.

Looking at an in-depth analysis, the Lido DAO price could be headed toward corrections as the Relative Strength Index indicator moves south, having exited the overbought region. This asset selling pressure on the token as the MACD indicator also towards the red zone, showing failed bull pressure.

LDO 1-day chart | Source: TradingView## Bitcoin SV Price Analysis

Bitcoin SV (BSV) is another gainer of the day today as the Bitcoin SV price stood at $84.5 as of press time, representing a 3,4% increase in the last 24 hours as the weekly drop stood at 15.6%. The trading volume has also jumped by 13% to stand at $191M.

The future price trajectory for the Bitcoin SV price is currently uncertain as the Relative Strength Index indicator, initially moving south, reverts to a northern trajectory, suggesting bull action. In contrast, the MACD indicator reverts toward the red zone to back bearish prospects, showing a struggle between bulls and bears.

BSV 1-day chart | Source: TradingView## Sui Price Analysis

Sui (SUI) is our last gainer of the day, as the Sui price stood at $0.82 as of press time, representing a 1.5% increase in the last 24 hours as the weekly rise stood at 2.9%. The trading volume has also jumped by 41% to stand at $350M.

The future price trajectory for the Sui price looks bearish as the Relative Strength Index indicator moves south as it exits the overbought region. The MACD indicator is also reverting toward the red zone, backing the bearish prospects on the Sui price as it heads for a correction.

SUI 1-day chart | Source: TradingView