The euphoria around Bitcoin halving is yet to live up to its billing after Bitcoin failed to surpass the $10,000 resistance, plunging back to around $8,000. However, altcoins like Cardano, Binance (BNB) Coin and Enjin Coin have begun printing a bullish green candle that show continuity in uptrend after the slight regression.
Cardano (ADA) Price analysis
After reaching a year high above $0.07 in February, the 13th largest cryptocurrency by market cap, Cardano, plummeted massively, reaching $0.02 in March.
Since then, Cardano has managed to fare well. Against the US dollar, Cardano, reached $0.05 in April. Afterward, it registered a slight retracement but later switched into a bullish trend as the wave of halving came around.
Cardano also took part in the recent market slump. However, at press time a unit of Cardano ADA coin is valued $0.0508 having added about 5% to its value against the USD in the last 24 hours.
As printed on the 4-hour chart, the Bollinger Bands indicator shows that the entire crypto market may witness volatility in the next few days.
Although the 100-day moving average is still above the 200-day moving average, ADA has just formed a double green candle that signals a mid-term uptrend. If a third green candle bigger than the previous one is printed, we can believe strongly that Cardano would surge greatly. On a contrary note, Cardano seems to have a solid support at $0.35.
Binance (BNB) Coin Price Analysis
After printing three consecutive red candle in the last few day, Binance (BNB) coin seem to be denying the bearish forces. This year, BNB coin has not been as profitable as most coins in the top ten market chart, but there are chances the cryptocurrency get a breakout on the upside trend.
At press time a unit of Binance (BNB) coin is priced $16.10 with over 6% added value against the US dollar. After leveling up with the simple moving average, the cryptocurrency fractal dripped, but there seems to be a call for recovery as BNB tracks the upside trend.
The 100 and 200-day SMA have crossed each other and the cryptocurrency is printing a green bullish candle. If the 200-day SMA manages to stay well above the 50 for about 5 days, we can then hope for a bullish run, but for now, BNB has strong support around $12.
Enjin Coin (EJN) Price Analysis
More than any of the three, Enjin Coin has printed a more bullish signal. The cryptocurrency seems to be stronger on the upside trend. Since April, Enjin Coin has been printing greenish bullish candle safe for the slight backslide seen in early May.
Today, Enjin Coin has added over 10% to its value and it is priced $0.158.
The Bollinger Bands indicator signals bullishnes for the cryptocurrency but one need to be cautious as the MACD indicator is still noticing a bearish divergence.
Since the start of this year, Enjin Coin has added about 97% to its value against the US dollar after starting the year priced around $0.07.