Binance Coin (BNB), Cardano (ADA), TRON (TRX), Tezos (XTZ), and Chainlink (LINK) are trading in bull markets. The altcoins possess similar characteristics as prices are above the EMAs. In other words, the uptrend will continue as long as prices remain above the EMAs. Some of the cryptocurrencies are geared up by the recent upswing of Bitcoin (BTC).
BNB/USD Major Trend: Bullish
Binance Coin (BNB) is in a bull market. After its last bearish impulse on March 12, the coin fell to a low of $8.59. The bulls took control of the market at the bottom of the chart. The upward move has been consistent. The price is making a series of higher highs and higher lows. The upward move has been very symbolic. Each time the market falls to higher lows, the price will move up to break the higher highs, and the bulls will continue to push higher.
This has been the market scenario. Recently, in its upward move, BNB rebounded on April 30 and reached a high of $18.50. The bulls were resisted at the recent high as the market fell to $16.73 low. The coin has resumed another upward move to break a recent high of $18.50. Presently, it is above 50% range of the daily stochastic. It indicates that the market is in a bullish momentum.
ADA/USD Major Trend: Bullish
Cardano (ADA) is in a bull market. After it fell to $0.020 low, its upward move has been hampered by minor resistance levels. In April, the coin has been battling to break the resistance at $0.036. On April 6, the coin rebounded at the low of $0.032 but failed to break the resistance at $0.036. The market fell to $0.032 low and resume a fresh upward move. The resistance was breached after three successive attempts.
On April 22, ADA rebounded at $0.034 and broke the resistance, the price rallied to $0.054 price level. It was overbought at the current price level. Sellers emerge to push price downward. The cryptocurrency is currently trading at $0.048 at the time of writing. Recently, price broke the resistance line of the channel and closed above it. This indicates that the upward move will continue. ADA was earlier in the overbought region and has fallen to level 67 of the Relative Strength Index period 14. It is in the uptrend zone.
TRX/USD Major Trend: Bullish
TRON (TRX) has reached a high of $0.0165 while in a bull market. The crypto has earlier rebounded at the low of $0.012 to reach the current price. Unfortunately, the coin has reached the overbought region. Sellers emerged as price fell to a low of $0.015. The market is likely to move up as price is above the EMAs. On the upside, if the price breaks the resistance line of the channel, and closes above it, the uptrend is likely to continue. TRON is above 80% range of the daily stochastic. The stochastic bands are pointing downward indicating the earlier downtrend. The market is still in a bullish momentum.
XTZ/USD Major Trend: Bullish
Tezos (XTZ) is in an excellent uptrend. The coin fell to a low of $1.29 in a bear market. The market resumed upward move by making a series of higher highs and higher lows. On April 20 and 27, the crypto rebounded twice to reach a high of $3.05. The price retraced above the resistance line. On the upside, XTZ upward move is likely to continue as price breaks above the resistance line and closes above it. The Relative Strength Index period 14 confirms that the coin is level 64 of the indictor. It indicates that the crypto is likely to rise because it is in the uptrend zone.
LINK/USD Major Trend: Bullish
The native currency of the Chainlink network is in a bull market. The bulls have testing to break the $4 resistance. Since on April 18, the market has been trading below the resistance. The bulls have failed to push the price above $4 resistance. On each resistance, the coin falls above the resistance line. On the upside, a rebound above the resistance line is likely to break the $4 resistance. LINK will retest the overhead resistance if the bulls are successful above $4 resistance. The coin is below 80% range of the daily stochastic. The stochastic bands are making a U-turn upward indicating that the momentum is bullish.