ADA is seeing a lot of attention at the time of writing. The coin waist purse raced past several physical levels to the top. It is evident that it is enjoying the general bullish sentiment in the market.
This is also the same situation as the global cryptocurrency market cap. It is currently at its highest in more than 10 days. Nonetheless, the sector has spent the last seven days with valuations below 1.1 trillion. A closer look at the charts depicts an almost parallel line over the last four days.
During this period, it clinged to $1.05 trillion and ended the previous intraweek session at this value. Given that it kicked off trading at 1.05 trillion, it is safe to say that the crypto market saw very little change in value over the last seven days.
However, the situation is gradually changing as more and more cryptocurrencies are enjoying a significant uptrend. As a result, the sector under consideration peaked above $1.1 trillion.
It is also worth noting that during the previous intraweek session, amidst the absence of volatility in the market, some cryptos registered significant losses and gains at the time.
There is no doubt that the entire industry is showing huge potential at this time. Let’s see how they may perform over the next five days.
Top Three Cryptocurrencies to Watch
BTC/USD
Bitcoin started the previous week slow. However, it saw considerable volatility during midweek. Afterward, it returned to its low-performing state. As a result, it failed to register any significant increase or decrease during the time under consideration.
One of the biggest moments happened on Tuesday as the asset opened trading at 26225 but fell under huge selling pressure. 8 drops below 25,500 for the first time in almost three months as it saw a low of 25,350. Nonetheless, it rebounded and ended the day a little below its opening price.
On the other hand, the biggest increase of the insignificant happened the next day. The Apex coins started trading at 26048 but retraced to 25805. After that, it rebounded and hit a high of 26800 which marks the highest it attained in almost five days.
With a focus on the new week, Bitcoin is seeing a massive increase in buying volume. Although it kicked off Monday a little slow. It is showing huge volatility at the time of writing. During the current intraday session, it started trading at 26103. However, it retraced below 26k but rebounded and surged to a high of 28142. Currently trading at 27684, it is up by more than 6%.
Due to this massive increase in price, indicators like Moving Average Convergence Divergence are displaying a positive signal. A clear evidence of this is that the 12-day EMA intercepted the 26-day EMA from below which means more price increases for the asset in the coming days.
Over the next five days one level to watch is the 26k support. Although the asset is trading above it, the sharp increase in price may reverse within the next two days. If that happens, BTC may return to its previous struggles.
ADA/USD
A closer look at what transpired during the previous week showed that Cardano experienced notable volatility. However, most of it was downwards. This means that the asset closed out the session with little decrease.
It kicked off the previous intra-week session at 0.27 but experienced a significant decrease in buying volume. Due to this, it dropped to a low of 0.25 rebounded and closed at 0.26. In the end, it closed with losses of almost 3%.
The downtrend continued until the next day as the asset made another attempt at the 0.25 barrier. As with the previous trial, it failed to break it but recovered and closed the period a little below its opening price. It also registered losses of almost 2% in the end.
Wednesday brought the biggest gain for the asset. This was also the only significant green of the week. It kicked up trading at 0.25 and tried breaking the 0.27 resistance but failed as it saw a strong rejection at $0.269. Nonetheless, attended the session with gains of almost 4%.
ADA is showing huge potential at the time of writing. During the previous intraday session, it dropped to a low of 0.25 rebounded, and closed at o.26. The uptrend continued into the current session as the asset retested the $0.28 barrier but failed to break it. It experienced notable corrections at the mark. As a result, it is currently trading at 0.27.
As with the previous cryptocurrency, cardano may experience significant volatility either to the top or down in the coming days. Indicators like MACD and the relative strength index hint that the most likely outcome is an attempt at further resistance. If that happens, the altcoin may attempt 0.29 next.
