Yesterday the price of Cardano (ADA) fell to a low of $1.02 and then rebounded. This was the previous low from June 22. The bears retested the previous low but were unable to break below it. Today, buyers push ADA to the previous high of $1.50 resistance.
Bitcoin (BTC) price has risen to $39,000 high after buyers successfully breach the $37,000 resistance. In the first uptrend since May 31, buyers could not sustain the bullish momentum above the $37,000 high.
The bulls are unrelenting as they push to the previous price levels of June 2019. BCH is approaching a $500 resistance level. Nevertheless, it is presumed that there will be a strong price tussle between the bulls and bears in the $500 to $522 price level. Meanwhile, BCH has reached the level where the price action formed a bearish double top in June 2019.
The last month has been written in the history books as a trading session that has offered some amazing returns in the blockchain and digital asset market. Following the protracted bearish trading period, the world’s top cryptocurrency managed to hit and exceed the $9.5k price level, a thing it last did in May and June of 2019 when it traded above $13k.
As the digital currency and Bitcoin markets continue with the hustle of finding support, the global cryptocurrency market cap has lost around $99 billion from June 26, 2019 (when it was standing at over $355.5 bln) to today. So what is causing all this to occur now?
When Bitcoin started to be used as an alternative means of payment, it was looking like garbage in the eyes of the oblivious public. The flagship cryptocurrency was adjacent to a mediocrity especially in the first six months between 2009 and 2010, with a value above 13 cents. It was during the summer of 2010 when most people started to hear and get to know the importance of it. Most online and offline news platforms picked interest in it and started writing and researching about it.
Cryptocurrency market has been highly volatile over the last couple of months, with Bitcoin finding support at $9,500 per coin. This month is characterized by a prolonged price correction after super lucrative gains in June. However, some altcoins out of top 100 have managed to keep trading in the green.