The Bitcoin’s price rally had made an impact in the price variations of many other altcoins. The utmost currency consolidated between $47,000 and $50,000 and at a press time, is trading at $47,359.15
The digital currencies like ADA, LINK, DOT, XRP and DOGE have also rallied hard to gain 2% to 10% momentum over the past 24 hours.
ADA Price Analysis
The Ethereum of Japan, Cardano has achieved a new milestone by hitting an all time high of $1.48 on 27 February 2021. However, ADA lost control to be stable as the sellers established a control over the buyers.
The next high is to be expected at $1.55 if the currency could effectively resist at a previous high point of $1.48. The major support levels are to be formed at $1.10 and $1.16. The relative strength index currently stands at 73.60 points that strongly indicates bullish cycle.
At a press time, ADA price is $1.27 with a 24 hour trading volume of $12,369,178,344. It is currently standing at the third position with a market capitalization of $40,394,002,572 and is down by 3.12% over the past 24 hours.
LINK Price Analysis
LINK’s price has suffered with a massive selling pressure by losing 17.66% momentum over a week.
Chainlink dramatically plunged to $13.03 in the last week due to the Bitcoin’s price crash and regained its position at $29.53. The price consolidated between $34 and $36 before a massive price drop.
Chainlink could form a new high at $35 if it successfully surpasses a resistance level at $31.84. Further the support levels are to be formed at $22.88 and 23.78. The relative strength index stands consistently lower with 47.28 points which is strongly indicating the bearish divergence.
At a press time LINK’s price is $26.46 with a 24 hour trading volume of $1,763,302,016. It is up 7.24% in the past 24 hours with a market capitalization of $10,850,499,694 and the coinmarketcap rank is #9.
DOT Price Analysis
After the crucial price crash to $12.52 in the last week, Polkadot claimed its price position at $35.80. The new high is expected to be at $40 if the bulls take the control over the bears. The currency might successfully resist at $37.75. The major support levels are $29.95 and $33.04. The relative strength index significantly stands at 65.04 points by indicating a bullish rally.
At a press time Polkadot’s price is $34.99 with a 24 hour trading volume of $4,122,599,632. It currently stands at sixth position with a market capitalization of $31,689,451,025 and is up 8.65% over the past 24 hours.
XRP Price Analysis
XRP’s price is currently in a bearish divergence as the bulls failed to push the prices up. The Ripple’s price drastically dropped to $0.38 from $0.50 XRP could reach a new high at $0.65 if it successfully exceeds a resistance at $0.57. The support levels are to be established at $0.40 and $0.45. The relative strength index stands at 45.47 which strongly indicates buy signal.
At a press time, XRP price is $0.43 with a 24 hour trading volume of $1,063,989,112,378. It is up 2.56% in the past 24 hours with a market capitalization of $19,406,937,750 and the current coinmarketcap rank is #7.
DOGE Price Analysis
DOGE has experienced a massive price rally after the Tesla CEO’s tweets on Dogecoin went viral. The coin also recorded an all time high by hitting $0.88. The massive selling pressure led to the decline of DOGE’s price. The currency assumed to hit $0.088 if it successfully retests at $0.065 and $0.070. The major support levels are $0.043 and $0.046. The relative strength index stands at 50.86 which strongly indicates the buy signal.
At press time, DOGE’s price is $0.049 with a 24 hour trading volume of $1,276,301,618. It is up 3.61% in the past 24 hours and the current coinmarketcap rank is #14 with a market capitalization of $6,409,256,184.