Daily Analysis: BTC, ETH, TRX, TIA, SUI

Bears have retaken control of the markets as tokens correct from the recent ETF stirred pump. This is seen from the global market cap, which has plunged by 4.7% from its previous 24-hour one, as the total cap stood at $1.69T as of press time. The fear and greed index is 63, as fear now creeps back into the markets

Bitcoin Price Analysis

Bitcoin (BTC) has ridden the bear waves as it faces corrections. The Bitcoin price stood at $42.5K as of press time, representing a 7% dip in the last 24 hours as the weekly drop stood at 2%. Bitcoin’s trading volume has spiked by a slight 0.2% over the same period to $43.5M.

The future price trajectory for Bitcoin looks bearish amid the dump, as an in-depth analysis of 24-hour BTC/USD charts reveals. The Relative Strength Index indicator is moving south, showing mounting bear pressure on BTC. The MACD indicator, on the other hand, has shifted to the red zone, showing bearish prospects for the Bitcoin price as well.

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

Ethereum (ETH)has also fallen prey to the corrections as the Ethereum price stood at $2537 as of press time, representing a 5.7% decrease in the last 24 hours as the weekly rise stood at 13%. Ethereum’s trading volume has spiked by 79% to $31B.

An in-depth analysis of the ETH/USD charts shows a struggle between ETH bulls and bears, as shown by the Relative Strength Index indicator, moves on a northern trajectory as it approaches the overbought region, showing bullish pressure on the Ethereum price. On the other hand, the MACD reverts towards the red zone, showing bear prospects on the Ethereum price.

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

Tron (TRX) has emerged as a top gainer today despite the general corrections as the Tron price stood at $0.113 as of press time, representing a 5.6% increase in the last 24 hours as the weekly rise stood at 9.3%. Tron’s trading volume jumped by 79% to $556M.

An in-depth analysis of the TRX/USDT charts shows dominance by TRX bulls, as shown by the Relative Strength Index indicator, moves on a northern trajectory as it approaches the overbought region, showing buying pressure on the Tron price. On the other hand, the MACD has shifted to the green zone, backing bull prospects on the Tron price.

TRX 1-day chart | Source: TradingView## Celestia Price Analysis

Celestia (TIA) has emerged as another top gainer today amid the corrections, as the Celestia price stood at $017.04 as of press time, representing a 6% increase in the last 24 hours as the weekly rise stood at 13.8%. TIA’s trading volume jumped by 84% to $504M.

An in-depth analysis of the TIA/USDT charts shows dominance by TIA bulls, as shown by the Relative Strength Index indicator, moves on a northern trajectory as it approaches the overbought region, showing buying pressure on the Tron price. On the other hand, the MACD is also moving in the green zone, backing bull prospects on the Celestia price.

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

Sui (SUI) is our last and top gainer of the day as the Sui price stood at $1.3 as of press time, representing a 13.6% increase in the last 24 hours as the weekly rise stood at 46%. SUI’s trading volume jumped by 22% to $1.1B.

An in-depth analysis of the SUI/USDT charts shows dominance by SUI bulls, as shown by the Relative Strength Index indicator, moving on a northern trajectory while in the overbought region, showing bull pressure on the Sui price. On the other hand, the MACD has is also moving in the green zone, backing the bullish prospects on the Sui price.

SUI 1-day chart | Source: TradingView