BTC/USD dropped from the intraday $9,476 to $8,547. The first digital coin lost nearly $1000 in a matter of hours before recovering to $8,8820 by press time. Despite the sell-off, BTC is still 10% higher from this time on Wednesday. A sustainable move below $9,000 has created a strong bearish momentum; however, the coin is heavily bought on the dips.
Co-founder of Framework Venture Mike Anderson believes that the price of LINK token may increase by 700% in May and push Ethereum from the second place in the global cryptocurrency rating.
LINK is a native token behind the Chainlink project, focused on creating a blockchain-based cross-platform solution for secure connection of smart contracts with the external data sources., such as data channels, APIs, etc. The project was launched in 2017, now its Ethereum-based token sits on the 13th place in the global cryptocurrency rating with the current market value of $1.3 billion.
Ripple had a great Wednesday and pushed higher toward the 200 simple moving average (SMA). Today (Thursday) it all looked so promising as the price started the session higher but since the price has come crashing down and with further inspection its not hard to see why.
The resistance level marked by the orange rectangle below shows that the 50% Fibonacci, 200 SMA and resistance zone all matched up to form the perfect blended resistance area. The bulls just could not take out the level despite a valiant effort to do so.
Image sourced from PIxabay