Bitcoin (BTC) is still facing mild bear activity as the asset trades at $26.04K after recording a daily decrease of 0.08% and a weekly decrease of 11.2%. However, Bitcoin’s trade volume has spiked by 40% during the same period and is presently at $12.9B.
The Bollinger bands are still diverging, indicating that the volatility of Bitcoin is still high as the Relative Strength Index (RSI) still moves below its average level in the oversold region, as bear effects remain felt ahead of the recent dip.
Ethereum (ETH) is also seeing some bear activity as the asset now sits on losses of 0.6% within a day of trading, taking it to $1661 as the trading volume dropped by 19% to now sit at $4.7B as of press time. ETH’s volatility levels are still high as the Bollinger bands maintain a divergence.
The RSI indicator is still below its average line in the oversold region, again showing bear effects on the market as the MACD indicator also moves in the red zone.
