The digital currencies have today enjoyed a brief bullish trend seen across the board. ICON (ICX) has not been left out of the short Bull Run, besides it is trading at $2.58 and is up 11.47% in the last 24 hours. The largest cryptocurrency by market capitalization, Bitcoin has also spiked in price and is exchanging at $7,452 and has recorded a 4.8% increase in value on the day.
ICON price is trading above the moving averages on the 30’ timeframe chart. Moreover, the gap between the 50 SMA and the 100 SMA is beginning to reduce to signal that the buyers are regaining control. The bulls are fighting to breach the resistance at $2.60, however, their eyes are locked on $2.7 and $3.0 respectively. On the downwards, declines will be stopped by the short-term support areas at $2.5 and $2.4.
Cardano (ADA) Price Analysis
Cardano ADA price recently traded new May lows after sliding below $0.20. ADA/USD broke past the key resistance level at $0.18 but was supported above $0.17. Cardano is also recording slight gains following the brief bullish momentum in the crypto market.
There is growing resistance at $0.20, while Cardano ADA is trading at $0.19 at the time of writing. A breakout above this level will encounter further resistance at the 78.6% Fib retracement level with the last swing high of $0.31 and a low 0.172.
The 50 Simple Moving Average is supporting the price, the buyers lack the momentum to recoil higher. This means that the bears could find an entry position and force another slide, trimming the gains. ADA/USD must find a support above $0.190 to avoid declines, however, $0.18 is presented as another vital support area.
The crypto’s trading volumes have been decreasing in the past few days, similarly, the market capitalization is also on a downward roll. On a positive note, ADA/USD is up more than 8% in the last 24 hours. Moreover, many assets in the market have taken a plunge in the last two weeks, therefore, Cardano will eventually shake off the bearish pressure and attack higher levels towards $0.40.
Nano (NANO) Price analysis
Nano Coin price is among the biggest gainers in the market today with its price surging more than 14% in the last 24 hours. The upside movement was initiated around 0.0067ETH which paved the way for more gains smashing its way past the resistance at 0.0069ETH as well as 0.0074ETH.
Currently, NANO/ETH is trading at $0.00749 after meeting resistance at 0.0077ETH. The price is immediately supported by the 38.2% Fib retracement level with the previous swing high of 0.00791ETH and a low of 0.00669ETH. The 50 SMA has crossed below the 100 SMA signaling that the sellers are seeking to enter. Another short-term support is highlighted at 0.0074ETH, although the major support still rests at 0.0069ETH.
The market capitalization for NANO Coin stands at $557 million while the trading volume in the last 24 hours is $10,886,900. Although a bullish momentum is present in the market, Nano is still far from its all-time high traded slightly above $30.00.