The cryptocurrency market is having a superb begin to the week, with many of the cryptocurrencies at present within the inexperienced zone.
The broader crypto market is buying and selling within the inexperienced zone. The entire cryptocurrency market cap is up by greater than 5% at this time and at present stands near $1.3 trillion.
Bitcoin stays the market chief, up by greater than 6% over the previous 24 hours. At press time, BTC is buying and selling above the $31,500 resistance degree.
Ether can be performing properly, up by 7% to this point at this time and at present buying and selling above $1,900.
ADA, the native token of the Cardano ecosystem, is the very best performer amongst the highest 10 cryptocurrencies by market cap. ADA is up by greater than 11% to this point at this time and at present trades above $0.62 per coin.
Cardano has been performing properly forward of the community’s Vasil Onerous Fork. The improve is anticipated to happen on June 29 and plenty of count on it to massively enhance the community’s scalability and efficiency.
Key ranges to observe
The ADA/USD 4-hour chart is at present bullish because the cryptocurrency has been performing properly at this time. The technical indicators present that ADA has been performing properly within the final 24 hours.
The MACD line crossed into the optimistic zone over the weekend as ADA carried out excellently. The 14-day relative energy index of 71 reveals that ADA may quickly enter the overbought area.
If the rally continues, ADA may surge previous the primary main resistance degree at $0.668 earlier than the tip of the day. Nonetheless, it could want the help of the broader market to commerce above $0.720 for the primary time this month.
On the flip aspect, ADA may drop beneath its 50-day EMA of $0.5605 if the bears regain management of the market.