ADA is rising, continuing the previous day’s uptrend. It has gained over 5% in the last 24 hours, trading above $0.97.
ADA and the rest of the market benefited from a massive shift in fundamentals. Following the positive FOMC, the crypto market saw an improvement in sentiment, with more investors becoming bullish. The fear and greed index rose from 50 on Wednesday to 54 on Thursday.
The further prospect of other nations adopting a Bitcoin reserve fuels the increases. The Czech Central Bank Governor on Jan. 29 presented the proposal to invest the country’s reserve in Bitcoin. The board gave a nod to research assets to invest in. Investors believe that BTC may gain more exposure following the research.
The Central Bank of Norway announced its indirect exposure to the apex coin. The bullish news continues to foster positive sentiment across the market.
Jasmycoin leads the top gainers with over 36% increase in the last 24 hours. Fartcoin follows behind with an over 29% increase. The green day continues as trading volume across the crypto market grew by 34%. The global cryptocurrency market cap gained over 3%, reclaiming $3.58 trillion.
Altcoins are leading the gain and recovery. Let’s examine some of the largest performed in the last three days.
ADA/USD
Cardano is back on the rise, with notable increases in the last 24 hours. On Wednesday, it ended its three-day downtrend following its rebound at $0.90.
ADA experienced one of its biggest downtrends on Monday. It lost the $0.90 support and dipped from $0.95 to $0.85. Although it rebounded and closed with no significant change in price, it failed to continue the uptrend the next day, losing over 2%.
The current day marks its second consecutive day of upticks. It opened Thursday at $0.94, surged, and peaked at $0.98. The asset altcoin experienced notable rejection of its push at $1. As a result of the resistance, it trades at $0.96.
Nonetheless, indicators are positive in response to the uptrends. The moving average convergence divergence prints buy signals. The 12-day EMA halted its downtrend and edges closer to the 26-day EMA as the bullish convergence advances.
The relative strength index displays similar readings. It is at 48, a massive improvement from the previous low of 41.
TRX/USD
Volatility returned to Tron, which shot up a few hours ago. It started the day at $0.24 and broke above $0.25 as buying pressure increased. It peaked at $0.25 and is up almost 5%. The latest surge marks its breakout from its previous trend of low trading volume and slight price change.
It recovered from Monday’s low and edges close to breaking its seven-day uptrend. The asset dipped on the first day of the week, slipping from $0.246 to a low of $0.231. However, it closed the session close to its opening price.
The moving average convergence divergence resumes its uptrend as prices surge. The 12-day EMA is rising after its previous bearish convergence. TRX’s latest price change sees it avert the negative interception. Nonetheless, the 26-day maintains uphill movement.
The relative strength index rises in response to the uptrend—nonetheless, the coin trades above its 78% fib level. Previous price movements point to notable demand concentration around this mark.
LINK/USD
Chainlink ended its five-day downhill movement on Wednesday. The downtrend started on Friday and saw the altcoin dip from $25 to $22 on Sunday. It rebounded and closed the last day of the previous week with small losses. However, it retested the low on Monday.
The coin gained almost 5% on Wednesday, surging from $22.6 to a high of $24.4. The uptrends are still in effect, as the asset broke above $25 a few hours ago and peaked at $25.2.
MACD displays an ongoing reversal from the previous bearish divergence. The 12-day EMA is rising as the bullish convergence is in full swing. Other indicators such as RSI and A/D are rising in reaction to the notable buying volume.
AVAX/USD
Avalanche is currently up by over 5% in the last 24 hours. It opened trading at $32 and trades at $34.7 at the time of writing. It continues the previous day’s uptrend, which saw it gain over 2%.
AVAX, like ADA, halted its three-day downtrend on Wednesday. The rebound comes after the asset lost over 13% in three days. The most significant drop occurred on Monday, when it dropped from $34.2 to $31.8 and closed with losses exceeding 6%.
Nonetheless, the relative strength index is rising, jumping from 35 on Tuesday to 43 at the time of writing. The moving average convergence divergence sees a significant change in its trajectory. The 12-day EMA is rising as the bullish convergence is in full swing.
XLM/USD
Stellar Lumen broke its seven-day high a few hours ago. It started the day at $0.39 and trades at $0.44 at the time of writing. Currently up by over 12%, the asset is heading toward its most bullish performance of the week.
The current day’s performance marks its first significant upside move in almost two weeks. It has been on the downtrend since Jan. 21 and lost over 12%. The token approaches the $0.45 resistance. It failed to break above during the last two attempts.
However, MACD prints buy signals. The 12-day EMA halted its downtrend and is advancing toward the 26-day EMA as the bullish convergence advances.
The relative strength index displays similar readings. It is at 54, a massive improvement from the previous low of 41.
HBAR/USD
Hedera ended its three-day downtrend during the previous intraday session. It opened trading at $0.29 and peaked at $0.31. Afterward, it retraced but closed with gains exceeding 3%. The bulls continued the upticks on Thursday, peaking at $0.32. However, it retraced and now trades at $0.317.
The moving average convergence divergence displays an ongoing reversal from the previous bearish divergence. The 12-day EMA is rising as the bullish convergence is in full swing. Other indicators like RSI and A/D are rising due to the notable buying volume.
