The crypto market has been generally bullish since the turn of the week with major coin Bitcoin leading the charge as it inches closer to the $8000 mark. The last 24 hours has seen the leading coin gain 4.57% to currently trade at $7,908.70.
As expected the altcoin market has followed suit with leading coins Cardano and Tron among the coins trading in the green zone.
Cardano up by five percent
Cardana is currently trading up 5% at the time of writing as the bulls press for a range breakout. ADA has been ranging between $0.340 and 0.0320 in the past month. However, the coin appears to have broken even with its current price of $0.037481 surpassing the psychological barrier of $0.035.
Looking at the current trend of the coin and market in general, ADA could hit the $0.04 mark before the end of the week. A downside in value would see the coin drop to its next support levels of $0.034 and at worst $0.032
2020 promises to be huge for the highly-rated blockchain with major developments expected. Charles Hoskinson the founder of Cardano recently revealed in an AMA session that ADA would be the most dominant project in the crypto space by the end of the year.
Tron makes gains after major announcement
Tron has continued 2020 in a similar fashion to 2019 with a raft of announcements in the past week. Eccentric CEO, Justin Sun revealed yesterday that the coin was set to launch a privacy coin on its blockchain platform, which became a major talking point within the crypto community.
The news and the movement of Bitcoin have reflected positively on TRX as it recorded a positive gain of 3.95% in the last 24 hours. As at the time of writing, TRX is valued at $0.014641 as it looks to push towards the $0.015 mark.
Looking on the positive side the next $0.016, on the flipside a downturn in price could see TRX drop towards support levels of $0.143.
Tron was unable to fulfill Sun’s prediction of finishing in the top 10 rankings but this year appears to be going well with the coin just $30 million off Monero in 10th position.