LINK sees an end to its three-day downtrend. It lost over 15% during this period, dipping from $25.5 to a low of $21.3.
The asset is not the only cryptocurrency to halt its downtrend during the current intraday session. A flurry of altcoins are currently seeing significant uptrends. The global cryptocurrency market cap sees a slight improvement in reaction to this trend.
One of the top gainers in the top 10 is Solana. It is up by over 5% following its surge above $190 a few hours ago. The latest positive change in value coincides with a slight shift in interactions with its ecosystem. The total locked value increased by over 500,000 SOL in the last 24 hours. However, revenue dropped.
SOL’s price ignores the ongoing controversy between its Co-founder and his ex-wife. Both parties are in court, and the ex-wife claims that Stephen Akridge stole “millions of dollars” from her.
Ethereum remained steady at $3,400 despite a notable increase in buying volume. Data from CryptoQuant shows that exchange ETH reserves are declining due to stronger buying pressure from regions like the US and Korea.
With altcoin taking the central stage, let’s see how some in the top 20 are performing.
ADA/USD
Cardano sees a slight decline in its trading volume over the last 24 hours. Nonetheless, the current price trajectory shows that the bear’s may be exhausted. The asset may close the day at its second uptick following its two-day dip.
Thursday’s retracement was the biggest. The ADA/USD pair lost the $0.90 support, dipping to a low of $0.85. The bulls failed to stage buybacks, and the pair lost 6%. Nonetheless, the asset saw a notable increase in buying volume during the previous intraday session.
It surged to $0.91 but lost momentum, resulting in a close a little above its opening price. It continues the uptrend with almost a 2% change, and indicators point to more. The relative strength index is on the rise in response to the growing bullish trend.
The pair trades above its pivot point, giving a strong barrier in the event of a change in trajectory. Its next price mark after breaking $0.90 may be the $1 barrier.
TRX/USD
A drop in network activity may be responsible for TRX’s inability to surge. It peaked at $0.263 a few hours ago but retraced due to a notable rejection at the second pivot resistance. It marks its second failed attempt at the mark in the last two days.
Nonetheless, it edged closer to bollinger middle band, which may mark it as the next price level to watch. The TRX/USD pair must decisively flip its R2 to guarantee it breaks midline. Although printing a red candle, indicators hold steady. The momentum indicator maintains its uptrend amidst the slight descent.
The same reading is present in the relative strength index. Its slight rise hints at notable buying pressure. The moving average convergence divergence shows an impending massive surge. The 12-day EMA halts its downtrend in response to the ongoing price trend. It may start a bullish convergence if the bulls maintain a positive trend.
AVAX/USD
The AVAX/USD pair may end the current day with gains exceeding 3%. It will mark its first green after the three-day decline it experienced. Currently trading at $37.8, indicators are reacting to the latest shift in trajectory.
MACD shows signs of halting its descent as the 12-day EMA slows down. The pair trades above the 61% Fibonacci retracement level. The support may serve as a launchpad for its attempt at its pivot point at $38.3. It may continue upwards, testing its 50% fib level at $40.
Other metrics, such as the RSI and the momentum indicator, are on the rise. The relative strength index was at 39 during the previous intraday session but was at 42 on Saturday.
TON/USD
Toncoin bounced off the first pivot support on Sunday after briefly declining below it. It continued the uptrend on Monday with a notable hike, hitting a high of $5.63. However, the uptrend ended on Wednesday when the asset peaked at $6.10.
The TRX/USD pair experienced a significant decline on Thursday, hitting a low of $5.65 from $5.94. A few hours later, it halted its decline, hitting a high of $5.87 after rebounding at $5.61. Currently up by almost 2%, it trades above Bollinger’s middle band.
It may attempt its pivot point at $6.10 after its previously failed attempt. The moving average convergence divergence reveals that the asset may see more price increases as it is close to a bullish divergence.
LINK/USD
The LINK/USD pair may end the current day, gaining almost 3%. It will mark its first green after its previous three-day descent. Currently trading at $22, indicators are reacting to the latest shift in trajectory.
It bounced off its 50% Fibonacci retracement level a few hours ago. Its next target may be the 38% fib level at $23.2. The momentum indicator hints at a possible continuation of the uptrend. This is also the same reading on RSI, as it slightly increased due to growing buying pressure.
Nonetheless, it must flip its first pivot resistance decisively before testing the highlight levels.
SHIB/USD
Shiba Inu prints another green candle, continuing its upward trend. Due to the renewed interest in memecoins, it has increased by more than 2%. Larger memecoins like DOGE and WIF also exhibit a positive trend.
Indicators like the RSI show a slight increase in buying volume. Trader optimism is increasing, according to the momentum indicators. However, other indicators have yet to react to the emerging trend, including the moving average convergence divergence.
The asset is above a critical level since it is currently trading over its second pivot resistance. The 50% fib level may be its next price target at $0.000023.
