The global markets saw the price of crude oil crash to $0 on 20 April, a development that caused a lot of frenzy in the market. While many reasons were attributed to this fall, probably the most pertinent was the ongoing Coronavirus pandemic. However, while the aforementioned fall was limited to the oil market, volatility continued to prevail in the crypto-market.
Cardano [ADA]
Source: ADA/USD on TradingView
The 15th largest coin on CoinMarketCap with a market cap of $895.11 million, Cardano has been reporting -1.04% in YTD returns. The coin was in an upward trend, with the price climbing from $0.0236 to $0.034 as the trend highlighted a similar bullish wave. According to the MACD indicator, ADA has been enjoying the bullish side of the market over the past few days, but with the MACD line and signal line close to each other, a reversal in trend is imminent in the near future.
Just recently, the CEO of IOHK Charles Hoskinson expanded on the launch of the Shelley era of Cardano. With the launch of Shelley, the following eras on Cardano’s roadmap will be easier to implement.
Stellar Lumens [XLM]
Source: XLM/USD on Trading View
Stellar Lumens [XLM], the 12th largest crypto on CoinMarketCap’s list, has been churning out positive returns for its holders. The coin’s YTD returns were marked at 19.55%. The market cap of the coin was $1.02 billion as its 24-hour trading volume was $727.08 million. Despite the volatility in the market, XLM did manage to be bullish as highlighted by the Parabolic SAR, with the markers found to be aligned under the candlesticks.
The coin was being traded at $0.0502 and while its immediate resistance was marked at $0.0536, its support was at $0.0433.
Decred [DCR]
Source: DCR/USD on Trading View
Decred or DCR was ranked 38th on CoinMarketCap’s list with a market cap of $137.56 million. Its YTD returns were in the negative, however, with the same observed to be -31.38%, with the token’s 24-hour trading volume noted to be $85.78 million. The coin was trading at $12.09 with immediate resistance at $13.211 and support at $9.89. The volatility in the Decred market was observed to be falling as the Bollinger Bands were converging; however, the placement of the moving average suggested that the bullish trend might be taking a turn for the worse.
