Daily Analysis: BTC, ETH, LDO, TIA, SEI

2024-01-04 01:57:49

Markets are yet to recover from yesterday’s evening plunge that saw several tokens correct. This is seen as the global market cap dropped by 4.7% above its previous 24-hour mark, as the total cap stands at $1.65T as of press time. The fear and greed index is 67, as greed fades away. The global trading volume is 63% up in 24 hours, at $118.4B as of press time

Bitcoin Price Analysis

Bitcoin (BTC) is still riding the bear wave as the Bitcoin price stood at $42.9K as of press time, as it sits on a 24-hour drop of 4.8% and a weekly drop of 0.4%. As a result of the Bitcoin price, the token’s trade volume jumped by 56% during the same period and is presently at $42.7B, causing high volatility.

The Relative Strength Index indicator is headed sour as it approaches a cross below 50, suggesting bearishness on the Bitcoin price. The MACD indicator is also in the red zone, suggesting a bearish short-term on the Bitcoin price.

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

Ethereum (ETH) is also feeling the bear effect as the Ethereum price stood at $2215 as of press time, representing a 6.5% drop from its previous 24-hour price and a weekly drop of 6.9%. As a result of the Ethereum price, the token’s trade volume jumped by 70% during the same period and is presently at $19.6B.

The Relative Strength Index indicator is headed south as it approaches a cross-over below 50, suggesting selling pressure on the Ethereum price. The MACD indicator is also in the red zone, suggesting bearishness on the Ethereum price.

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

Lido DAO (LDO) is one of the few gainers in today’s session, as the LDO price stood at $3.12 as of press time, representing a 2.3% jump from its previous 24-hour price and a weekly rise of 10%. As a result of the Lido DAO price, the token’s trade volume jumped by 180% during the same period and is presently at $394M.

The Relative Strength Index indicator is headed north as it approaches the overbought region, suggesting buying pressure on the Lido DAO price. The MACD indicator is also in the green zone, suggesting bullishness on the Lido DAO price.

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

Celestia (TIA) has also defied the bear odds as the Celestia price stood at $13.55 as of press time, representing a 4.5% pump within the last 24 hours as the weekly rise stood at 9.1%. As a result of the Celestia price, the token’s trade volume jumped by 78% during the same period and is presently at $418M.

The Relative Strength Index indicator is headed north as it heads for the overbought region, suggesting buying pressure on the Celestia price. The MACD indicator is also reverting towards the green zone, suggesting bullishness on the Celestia price.

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

Sei (SEI) is our last gainer today as the Sei price stood at $0.76 as of press time, representing a 5.3% pump within the last 24 hours, as the weekly rise stood at 64%. As a result of the Sei price, the token’s trade volume jumped by 88% during the same period and is presently at $1.6B.

The Relative Strength Index indicator is, however, headed south as it approaches an exit from the overbought region, suggesting mounting selling pressure on the Celestia price. The MACD indicator is also reverting toward the red zone, suggesting fading bullishness.

SEI 1-day chart | Source: TradingView

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