The sluggish momentum continued as the cryptocurrency market recorded a 0.15% decrease over the last day. Bitcoin and its peer altcoins were consolidating while facing stiff resistance by the bears. A few coins witnessed a noticeable downtrend over the last day.
Chainlink [LINK] staged an impressive rally and over the last seven days, the coin was up by 21.86%. However, following the latest slump, the coin was being traded at $9.81 declining 4.19% over the last 24-hours.
The dotted markers of Parabolic SAR were below the LINK price candles firmly supported the candle from a further decline close to its immediate support level of $7.63. RSI, though below the 50-median line, formed a bullish divergence. This could potentially indicate a rising sentiment of buying pressure among the investors in the coin market.
If the bulls aggressively defend the current range, LINK could climb to its overhead resistance of $10.73.
Over the last 24-hours, Cardano [ADA] was down by 5.13% which drove its price to $0.0978 as it held a market cap of $3.043 billion and a 24-hour trading volume of $669 million.
The coin just breached its resistance level and was found trading close to it. The green closing lines of Awesome Oscillator depicted a bullish momentum for the coin. Chaikin Money Flow was also hovering above the zero-line depicting an inflow of money into the market and hence a bullish phase for the coin. If this trend persists, ADA could target the previously breached level of $0.1252.
Monero [XMR] was valued at $99.30 after a surge of 2.84% over the last 24-hours. At the time of writing, it registered a market cap of $1.75 billion and a 24-hour trading volume of $886 million.
The privacy-focused coin appeared to be in the middle of yet another rally, unlike its peer altcoins. It breached a crucial level of resistance at $98.76 and was still hovering close to this level. XMR bulls gained an upper hand. This was evidenced by the bullish Klinger Oscillator as well as MACD indicator.
XMR now targets yet another resistance at $106.8, a level that was last seen in July 2019 as its support remained untested at $87.15