The cryptocurrency market appeared to be in a consolidation phase as they climbed closer to their respective resistance points. Bitcoin and several top altcoins such as Ethereum, Chainlink, and Cardano flashed green. As a result, the global market cap rose by 0.58% over the last day and was currently at $402.1 billion.
Ethereum was up by 3.30% over the last 24-hours as it neared the crucial resistance of $400. At the time of writing, ETH was priced at $398.6 as it held a market cap of $45.1 billion a 24-hour trading volume of $12.48 billion.
As the Ethereum climbed to a recently formed local top, the dotted markers of the Parabolic SAR aligned above to resist the uptrend. The RSI, on the other hand, was still above the 50-median line depicting a sentiment of buying pressure among the investors in the coin market.
If the bulls manage to defend the current region, ETH could target its overhead area of $437 while its support was found to be at $365.
Over the past 24-hours, Chainlink rose by 3.95% which drove the token’s value to $11.58. The LINK token registered a market cap of $4.52 billion and a 24-hour trading volume of $1.39 billion, at the time of writing.
After a gradual rise in the token’s price, the Awesome Oscillator flipped bearish momentum with the red closing bars. The Chaikin Money Flow, however, as so managed to float a little over the zero-line depicting the decline in the inflow of capital in the coin market and hence a bearish phase for the coin.
The immediate support level for LINK was found to be at $8.63 while its nearest resistance level of $13.93.
Cardano noted an increase of 5.47% over the last day as it climbed to a price of $0.098. At the time of writing, ADA recorded a market cap of $3.058 billion and a 24-hour trading volume of $664 million.
ADA appeared to have resumed an uptrend. Validating this trend was the Klinger Oscillator which appeared to be heading for a bullish crossover. Furthermore, the spike in the reading line of MACD also corroborated with this sentiment.
The immediate resistance level stood at $0.111 while its support was found to be at $0.076.