The past few days have been understandably bullish for the crypto-market. Not only did Bitcoin, the world’s largest cryptocurrency, climb to a new ATH on certain exchanges, but the past week also saw the launch of Ethereum 2.0’s beacon chain with its genesis block. The rest of the market’s altcoins, as expected, reciprocated, with many like Cardano, BAT, Dash continuing to be bullish, despite corrections setting in.
Cardano, the cryptocurrency ranked 8th on CoinMarketCap’s charts, has had a topsy-turvy year. While ADA did climb to new heights on the back of organic developments during the summer, like most alts, it fell dramatically in the months of August and September. The latest uptick in BTC’s valuation, however, spurred ADA’s movement on the charts, with the cryptocurrency climbing by over 24% over the previous week, before a wave of corrections swept in.
Despite these corrections, however, the ADA market remained bullish as while the Parabolic SAR’s dotted markers were well below the price candles, the MACD line was hovering above the Signal line. While a bearish crossover in the latter seemed likely soon, whether it would be enough for a trend reversal was hard to ascertain.
Cardano was in the news recently after its Project Manager revealed the addition of token locking functionality to go with the rollout of Goguen.
Basic Attention Token [BAT]
Like Cardano, Brave’s Basic Attention Token peaked in the month of August, before a market-wide depreciation pulled the cryptocurrency down to its April-May 2020 levels. However, with BTC climbing to a new ATH, BAT didn’t hold back for long. While its own price appreciation wasn’t as significant as many of the market’s other altcoins, BAT did surge by 9% over the previous week.
As far as the indicators are concerned, it seemed likely that BAT’s bullish movement would continue. While the Bollinger Bands were expanding to suggest incoming price volatility, the Chaikin Money Flow was well above zero and pointed to a rise in capital inflows.
BAT was in the headlines over a week ago after the crypto-cards game Splinterlands announced support for the cryptocurrency.
One of the market’s few privacy coins, DASH has seen exponential growth over the past few weeks. In fact, even before Bitcoin was heading towards its latest ATH, the privacy crypto was climbing on the charts. Over the previous week alone, DASH was observed to have surged by over 24%, before a small correction eventually set in.
Following the aforementioned hike in price, DASH has finally breached the levels it last set in March 2020, right before the infamous Black Thursday price crash.
While the Awesome Oscillator underlined the bullishness in the market with its green histograms, the Relative Strength Index was hovering close to the overbought zone.