After enduring a troubling week, the bulls and bears continued to assert dominance over the cryptocurrency market. On the brighter side, the number of Bitcoin [BTC] whales reached an all-time high which indicated that the world’s largest cryptocurrency was still in an accumulation phase.
Following BTC’s minor price change to the positive side, several altcoins also bounced upside.
Over the last year, Chainlink [LINK] has witnessed a meteoric rise. But the latest announcement of crypto trading platform dYdX introduction of LINK-USD perpetual contracts boosted the price closer to the resistance point of $19.2.
LINK was up by 3.25% over the past 24-hours which drove its price to $15.17 as it held a market cap of $5.30 billion and a 24-hour trading volume of $1.21 billion.
Despite the rise, Awesome Oscillator continued to point towards a bearish momentum. Chaikin Money Flow also appeared to be struggling in the bullish region as the inflow of capital to the LINK market declined.
As the bearish pressure sets in, the key levels of support to look out for to the downside are $12.2 and $10.02 respectively.
Despite multiple attempts of the bulls to defend the support zone aggressively at $0.112, Cardano was found to be trading close to this point as it continued to set lower highs over the past week.
At the time of writing, ADA was priced at $0.113 after a minor rise of 0.30% over the past day. It registered a market cap of $2.95 billion and a 24-hour trading volume of $293.7 million.
Its technicals, on the other hand, signaled bearishness and faced stiff resistance at $0.132 as the signal line dominated the Klinger Oscillator as well as MACD. Should the coin fail to hold the aforementioned level, its next target in the short-term lies at $0.098.
Binance Coin [BNB]
Binance Coin [BNB] dismissed an overhead resistance of $22.93. After a brief fall to the $22-level, the coin recuperated as it rose by 0.68% over the past day. BNB was valued at $22.29, at the time of writing and stood at a market cap of $3.21 billion and a trading volume of $238.5 million over the last 24-hours.
The dotted markers of Parabolic SAR hovering above the BNB candles resisted a potential upside break. The RSI, which depicted aggressive selling, flipped above the 50-median line suggesting bulls are at a minor advantage.
The coin’s immediate support stood untested at $19.43.