Shortly after kickstarting an uptrend, the cryptocurrency market sustained a minor pullback as the market flashed red. At the time of writing, the global crypto market cap stood at $334.5 billion after noting a decline of 2.31% over the past 24-hours. Bitcoin along with altcoins saw significant corrections.
Despite multiple breakout attempts, Ethreum [ETH] has so far failed to climb close to its previous high. Over the last 24-hours, the coin fell by 3.68% driving its price to $339.3. At the time of writing, ETH registered a market cap of $38.3 billion and a 24-hour trading volume of $15.15 billion.
The green closing bars of Awesome Oscillator depicted a bullish momentum in the coin’s price in the near-term even as the market. Chaikin Money Flow has, once again, managed to retain its position above the zero-line indicating that despite the market downturn, the inflow of capital into the coin market has remained steady.
$390 continued to be a critical target level for the coin while it found support at $320.
XRP successfully breached a resistance level despite the latest pullback which triggered a drop of 3.95% over the past day. The coin was being traded at $0.244 as it held a market cap of $11.05 billion and a 24-hour trading volume of $2.63 billion.
The dotted markers of Parabolic SAR continued to support the XRP price candles from an extended decline. RSI above the 50-median line also depicted a sentiment of increasing buying pressure among the traders in the crypto market.
If the positive momentum continues, the bulls could potentially push XRP’s price closer to its immediate resistance at $0.293. Additionally, the price was firmly supported at $0.222 level.
Cardano [ADA] has secured an impressive streak over the last couple of months. Despite the recent fall from the local top, ADA made yet another upside recovery.
The coin was down by 4.32% over the last 24-hours which drove the price to $0.0925, at press time. Its market cap stood at $2.88 billion while recording a trading volume of $745 million over the last 24-hours. MACD appeared to be heading for a bearish crossover following the slump, while the signal line continued to dominate Klinger Oscillator.
If the bulls gain an upper hand over the coin’s price, a major level for the coin to look out will be $0.102. However, if this fails, ADA could retrace to its immediate support level which was found to be at $0.0774.