Cardano Steals The Spotlight As It Became 4th Biggest Crypto

Cardano steals the spotlight as it became the fourth biggest cryptocurrency on the market while BTC inches away from a new all-time high as we read further in today’s Cardano ADA news.

After another increase which took BTC to $41,000, the crypto slightly retraced below this level and the crypto market cap reached an ATH above $1.2T but retraced when most altcoins started correcting slightly. Cardano is the main exception with a 20% surge to a new 3-year high. The number one cryptocurrency was increasing slightly since the Monday dip until it broke above the $37K level a few days back. The bulls pulled it together and drove the price above $40,000.

Bitcoin reached a new intraday high of $41,000 with the cryptocurrency coming just $1000 away from its ATH of $42,000 but the bears intercepted the move at that point and didn’t allow for another increase. BTC started to retrace to an intraday low of $38,000 but it has then bounced off and reclaimed $39,000. Looking from a technical perspective, BTC will have to overcome the resistance lines of $40,000 and $41,000 before challenging the $42,000 level.

Bitcoin climbed above the $38,000 resistance but had a hard time staying above $40,000 and the price was trading near the $38,600 support but it is well above the 100 simple moving average. There’s also a key bullish trend line forming with the support near $38,650 on the 4-hour chart of the pair that could either decline towards $36,000 or climb back above $40,000.

The support levels at $38,550 and $38,000 could help the case if the price drops again. Also, most of the alternative coins marked major gains in the past few days which resulted in a new all-time high for ETH, Binance Coin, and Polkadot. The total market cap went for a record of $1.220 trillion as well.  Things changed to some extent in the past day and ETH declined by 2% with it being set at $1650 while Bitcoin Cash is below $460. Cardano steals the spotlight after it became the 4^th biggest cryptocurrency despite its peers declining from 2% to 4%. ADA is the biggest gainer in the top 10 with a massive surge of 23%.

Chainlink dropped by 4% and Litecoin as well by 4%, Polkadot by 2% while XRP and BNB recorded minor gains. More gains were seen from Dogecoin 21%, Avalanche 16%, Decenrtaland 30%, and Elrond 14%. On the downside, Nexo crashed by 11%, 0x by 9%, Ampleforth by 8%, and Ren dropped by 7.5%.