Several altcoins such as Chainlink, Cardano, and XRP underwent a minor pullback in tandem with Bitcoin’s brief depreciation below the $15k. The global cryptocurrency market cap stood at $437.4 as it noted a decline of 2.77% over the last day while the total crypto market value rose to $136.9 billion.
Chainlink [LINK] was down by 5.24% over the last 24-hours. At the time of writing, the token was priced at $12.45 as it held a market cap of $4.87 billion and a 24-hour trading volume of $2.28 billion.
The green closing lines of Awesome Oscillator saw a bullish flip after a persistent downtrend. This was indicative of a potential bullish momentum in the coin’s price as it headed towards recovery. The Chaikin Money Flow also bounced back from the zero-line depicting that the bulls have so far managed to defend its current level.
If the bullish phase continues, Chainlink [LINK] could rise to its nearest resistance of the $16.14 level as it found crucial support at $9.75
Over the past day, Cardano [ADA] declined by 4.79% driving its price to $0.106 at the time of writing. The coin registered a market cap of $3.30 billion and a 24-hour trading volume of $892 million.
The Klinger Oscillator also flipped bullish after the dip indicating a positive sentiment among the market participants in the coin market. The MACD also depicted a weak but bullish phase hence signaling a potential price rise in the near-term.
If this persists, Cardano [ADA] could target its overhead resistance of $0.123 while its immediate support level was found to be at $0.091
XRP retraced its steps back to $0.253 after noting a decline of 3.66% over the past 24-hours. At the time of writing, the token recorded a market cap of $11.48 billion a 24-hour trading volume of $3.13 billion.
The dotted markers of the Parabolic SAR continued to support the XRP price candles from a further downturn. The RSI spiked above the 50-median line which indicated a rising sentiment of buying pressure among the investors of the coin market.
The increasing buy sentiment coupled with bullish Parabolic SAR suggested that XRP could be primed for further gains. If this materializes, the coin could climb to its recently breached resistance level of $0.298 as it was firmly supported at $0.221.