Posted on: January 10, 2021 Posted by: admin Comments: 0

After Bitcoin moved upwards from the $41,000 mark, the broader market followed suit and most altcoins rose along with the king coin. At press time, ADA, AAVE, and BAT were in the green territory and projected an upside move in the short term.

Cardano [ADA]

Source: ADA/USD, TradingView

After snapping a local high at $0.358, a correction pulled ADA towards support at $0.28 before prices picked up once again on the charts. The world’s sixth-largest cryptocurrency by market cap has surged by nearly 70% in the past seven days and has found itself among the top weekly gainers. Currently, prices were looking to topple resistance at  $0.341 as the bullish momentum was driving the price towards its local high once more.

The Relative Strength Index registered an uptick and was moving towards the overbought zone, affirming the bullish nature of the prices.

On the flip side, Chaikin Money Flow showed that capital was trickling away from the crypto asset since the index pointed lower, towards the equilibrium point. This suggested that a broader market rally could be required to boost prices beyond their present resistance level.

Aave [AAVE]