Latest Market News
Having maintained a positive move for over five months, the BNB market saw a decline last week after crossing the fast 21-day simple moving average and attempting to penetrate the important 50-day simple moving average before the price being rejected. As of now, the price of BNB is back above the 50 SMA and trading around the $23 level.
So far, the price of XRP has remained substantially low amidst due to low trade trading. In fact, the recent rise in Bitcoin’s dominance is shrinking the value of many altcoins.
Ethereum has finally successfully breached the important $180 resistance turned support, which was a tough area for the bulls for over a month.
As we move further into Q2, this week’s choices are set to benefit from increased trading activity and speculation, and project developments that should strengthen their market positions and also result in increased amounts of attention to their respective currencies over the coming weeks.
Since January 1, the price of Ethereum had been trading below the $160 resistance level before it was broken by the bulls on April 2. On April 8, the crypto's price had risen to a high at $181 price level but the bulls were resisted at the $181 resistance zone. The crypto's price fell to the support of the 26-day EMA to commence a range bound movement.
EOS is bullish and it is clearly obvious that the important 50-day simple moving average has been a supporting line against a sudden price drop. The bulls have been in play since last December after retracing on the white-dotted rising line in February.
For the past four months, NEO has been following a bullish sentiment climbing on a higher high, higher low pattern. As of today, it is clear on the chart that the NEO price action has been bound in an ascending broadening wedge, acting as support and resistance levels for the market.
For the past three months, DASH has been trending higher after joining the new ascending trend line (orange) in early February; nearing $150 before retracing back to $105 on the orange line. After the retracement, DASH market bounces up to a current trading price of $123 level; aiming at $130 resistance level.
The Bitcoin price pump continues to climb further higher over the previous 24-hour trading session when BTC/USD rose by a total of 2.57%, bringing the price for the cryptocurrency above the $6,000 resistance level to the $6,017 area. Bitcoin has now seen a 10.93% price increase over the past week alone with a further 75% price increase over the past 90 trading days.
Following the long-term perspective, Cardano has maintained an upward movement for over three months before the market switched to a downward direction in April. As of now, the bearish correction is still in motion and it may probably last to the $0.052 support level, testing the 200-day moving average (white line).
