Bitcoin and the rest of the cryptocurrencies were consolidating and noted a 1% increase over the last day in terms of the global market cap. The market remained fairly stable and no wild price swings materialized at the backdrop of the latest Kucoin hack, the BitMEX-CFTC feud. Bitcoin’s dominance saw a mild decline of 0.08% and was currently found to be at 57.86%.
Chainlink [LINK] noted an increase of 0.67% over the last 24-hours which drove its price to $9.37. At the time of writing, the token registered a market cap of $3.27 billion and a 24-hour trading volume of $832 million.
The coin suffered a downturn as it attempted to make a headway inching close to previously surpassed levels. Despite this, the dotted markers of Parabolic SAR aligned below the candles resisted a drop in LINK’s price. In addition, the RSI formed a bullish divergence suggesting a sentiment of confidence among the traders in the coin market. If the bullish trend persists, LINK could target its immediate resistance of $10.75 while ist support stood firm at $7.66.
Cardano [ADA] also noted a minor surge of 2.92% over the last day and was valued at $0.0975 as it held a market cap of $3.036 billion and a 24-hour trading volume $610 million.
After the brief stint with the bears, ADA made a quick comeback and this was evidenced by the green closing bar of Awesome Oscillator which depicted a shift to bullish momentum. Chaikin Money Flow as managed to retain its position above the zero-line indicating an inflow of money to the coin market and hence a bullish phase for ADA.
If the bulls retain an upper hand over the bears, ADA could climb to its recently breached overhead resistance: of $0.102. It found strong support at the $0.076 level.
Monero [XMR] shows no signs of stopping and currently surged by 2.79% which catapulted its value to $106.53. At the time of writing, the privacy-focused coin stood at a market cap of $1.88 billion and a 24-hour trading volume of $1.093 billion.
XMR has been one of the best performing crypto-asset. Unfettered by recent corrections, the coin has managed to surge to levels not seen since mid-2019. In line with this, the signal line in both Klinger Oscillator and MACD was found to be hovering below further validating the bullish narrative for the coin. If this trend continues, XMR’s value could further a resistance level of $118.04, last seen in June 2019 while its support point was untested at $95.