Bitcoin, the largest cryptocurrency by market capitalization, saw its price decrease by 0.21% to $27.5K on Friday, despite a weekly gain of 1.83%. The trade volume for Bitcoin rose by 10% to $11.5 billion, alongside rising volatility as indicated by diverging Bollinger bands and a bullish Relative Strength Index (RSI).
Ethereum, the second-largest cryptocurrency, experienced a daily price fall of 0.4% to $1628, contributing to a weekly drop of 2%. Despite the price drop, Ethereum’s trade volume increased by 13% to $5.17 billion, amidst increasing volatility and a bearish RSI below the average line.
Avalanche, another notable cryptocurrency, registered a daily price increase of 4.6% to $10.47 and a significant weekly rise of 12.5%. However, its trade volume dropped by 5% to $5.17 billion amidst increasing volatility and a bullish RSI above the average line.
Trust Wallet Token also showed positive momentum with a daily increase of 0.94% to $0.9402 and an impressive weekly rise of 20.5%. Despite this upward trajectory, its trade volume dropped significantly by 40% to $111.6 million amidst increasing volatility and a bullish RSI in the overbought region.
Lastly, Ripple experienced an encouraging weekly rise of 20.5%, with its price standing at $0.5205 amidst low volatility levels indicated by converging Bollinger bands and bullish RSI, demonstrating bullish effects on its price.
In summary, while the overall market capitalization has dipped slightly, individual cryptocurrencies showed a mixed performance with varying levels of volatility and trade volumes. The market sentiment remains neutral as per the fear and greed index.
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Source: Cryptocurrency - investing.com
