Volatility is completely locked in the cryptocurrency industry at the moment. Ethereum surged towards news new yearly high of $443 over the past day but other coins joined in the rally during ETH’s decline. The market altogether continued to picture a sense of divergence in the charts, like other altcoins continued to improve their standings in the ecosystem.
Ethereum
As explained earlier, Ethereum reached another milestone on 15th August, reaching $442, just shy of the $450 mark. This is Ethereum’s third new high in 2 weeks, after clocking in $400 on 1st August. Ethereum had a market cap of $48 billion at the time of writing, with a trading volume of $11.8 billion.
However, Ether’s price fell prey to the volatile market as a quick decline has taken its valuation down to $427. Market Indicators were indicated strong bearish sentiments as well with CMF suggested that capital in-flows were getting outplayed by capital out-flows. Parabolic SAR also maintained its stance above the price candles and now, the Relative Strength Index is reaching an over-sold zone.
However, with the RSI a trend flipping might take place anytime soon.
Bitcoin SV
With Bitcoin SV, the last 24-hours exhibited a decline of 4.14% but remain true to its week-long uptrend in the charts. For Bitcoin SV, the idea seemed simple as the moment with a consistent bounce off the uptrend and then pushing above the immediate support. With a market cap of $4.15 billion, Bitcoin SV was valued at $224.19 at press time.
Similarly to Ethereum, Bitcoin SV’s market confluence was a little bearish too. MACD signal line is trailing under the signal line, suggesting bullish strength in the charts. However, Parabolic SAR is bullish, staying put under the candlesticks and remaining at bay with the apparent long-term bullish rally.
TRON
Lastly, Tron maintained its position in the 15th position with a market value of $1.83 billion. For the market cap, TRX tokens had a good trading volume of $809 million, and over the past day, the asset was up by 5.89%. With the parabolic SAR supportive of its rally, the other market indicators were waving a bull flag as well.
Awesome Oscillator suggested that the bullish momentum was slowly building up for Tron, and the MACD line was more often hovering above the signal line. Even though, the signal line was following at close proximity, at the moment bulls had the upper hand on Tron’s market.