As soon as once more, it could appear that the cryptocurrency market has simmered down, with Bitcoin, the world’s largest cryptocurrency by market cap, nonetheless caught between the $9,500 and $9,000 ranges.

Supply: CoinStats

On the time of writing, BTC was being traded at $9154 with a 24-hour buying and selling quantity of $7.four billion. The shortage of motion in BTC’s value following the $500 drop just a few days in the past appeared to have handed on to the altcoin market as effectively, with alts reminiscent of Cardano, EOS, and DigiByte maintaining regular, if not consolidating.

Cardano [ADA]

Supply: ADA/USD on TradingView

Cardano has been one of many cryptocurrency market’s best-performing altcoins this yr, with ADA, on the time of writing, effectively previous the worth ranges it hit proper earlier than the crash in March. In reality, ADA’s uptrend on the charts has been steep, particularly so for the reason that final week of Might. At press time, this uptrend had stalled considerably, nevertheless, with ADA’s worth affected by Bitcoin’s twin falls on the 11th and the day earlier than. ADA was priced at $0.08, having recorded a 6.79% hike in its worth during the last 2 weeks.

Cardano’s technical indicators underlined the bullish nature of the ADA market as not solely had been the Parabolic SAR’s dotted markers effectively beneath the worth candles, however the Chaikin Cash Stream had additionally stabilized proper above zero, an indication of regular capital inflows.

The optimism shared by Cardano neighborhood members is palpable, with the identical sentiment shared by many others too. In reality, only recently, Messari’s Ryan Selkis had tweeted that he anticipated Cardano, amongst different alts like Tezos, to problem for a plan within the top-10 of the cryptocurrency rankings. That is simply extra validation for the work taking place within the Cardano ecosystem, with the Shelley mainnet nonetheless on-track for launch on the 29th of June.


Supply: EOS/USD on TradingView

EOS, as soon as an everyday close to the highest of the cryptocurrency rankings, now languishes down at ninth on the charts. It’s not exhausting to see why EOS has fallen so badly, nevertheless, with its value charts a mirrored image of its disappointing value efficiency over the previous few months. In reality, whereas the crypto did recuperate its Black Thursday losses briefly again in Might, it hasn’t recuperated but from the market depreciation that preceded Bitcoin’s halving, with EOS priced at $2.48, at press time. Over the previous 2 weeks, the crypto was down by nearly 10%.

The mouth of the Bollinger Bands was holding regular for the reason that crypto’s motion over the previous few days has largely been stagnant. The Relative Energy Index, nevertheless, was leaning barely in the direction of the oversold zone.

On the information facet, whereas the crypto itself hasn’t famous any developments, it was within the headlines just a few days in the past after it was reported {that a} pockets related to the PlusToken Ponzi scheme had moved EOS price $67M.

DigiByte [DGB]

Supply: DGB/USD on TradingView

DigiByte, ranked 36th on the cryptocurrency charts, has had an attention-grabbing 2020, to say the least. Whereas like different alts it too was affected by Bitcoin’s dramatic fall again in March, DGB recovered exponentially within the months after. In reality, proper earlier than Bitcoin’s halving, the crypto rose to as excessive as $0.024 on the charts. Whereas the crypto’s not on the similar stage on the time of writing, it’s actions stay, to a level, opposite to the remainder of the market.

During the last 10 days, DigiByte not solely rose by 33%, nevertheless it additionally fell by nearly 10% following BTC’s fall just a few days in the past. Apparently, DGB was noting YTD returns of over 240%, on the time of writing.

Whereas the MACD line was effectively beneath the Sign line on the charts, the Superior Oscillator pictured minimal momentum out there.

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