Today, the cryptocurrencies market have benefited from a rapid upward movement. ICON (ICX) has been in full upswing, Cardano (ADA) is also “green”, while Nano (NANO) is dropping, losing about 4.7%. On the other hand, Bitcoin (BTC), the biggest crypto by market cap, has also risen in value against USD yesterday by shed the gains today, currently trading at $7,382.
ICON (ICX) price analysis
The ICON price is currently trading higher than the moving averages on the 30′ chart. In addition, the split between the 50 SMA and the 100 SMA is now starting to shrink to signal that purchasers are recovering their grip.
The bullish traders are struggling to break the $2.60 resistance but are keeping their eyes on the $2.7 and $3.0 levels. The short-term support regions will arrest the downward trend at $2.5 and $2.4 support levels.
Now, ICON (ICX) trades at $2.57
Cardano (ADA) price analysis
The Cardano ADA price has recently quoted the new May minimums after plummeting under $0.20. Yesterday, the ADA/USD pair exceeded the critical resistance level at $0.18 but stood at over $0.17 level.
Also yesterday, Cardano (ADA) chart presented a strong resistance level around $0.20. As Cardano (ADA) moved over this level (trading at $0.204, at the moment of this article) will encounter more resistance at the 78.6% Fiber Retracement level, with a peak at $0.31 and a minimum at $0.172.
However, the sentiment is bullish for the time being.
Nano (NANO) price analysis
The Nano (NANO) price was among the major earners in the cryptocurrencies market yesterday as its value against the USD soared by more than 14%.
Unfortunately, today Nano (NANO) plummeted below the $4 support level as it is now trading at $3.87, as it records a quite massive drop of about 6% in the last 24 hours, at the moment of this review.
Nano (NANO) lost the momentum it gained yesterday when the bulls pumped in the cryptocurrencies market and is now supporting a correction which might force the coin drop even more.
In short, today, May 30th, the cryptocurrencies market is continuing the slight recovery after a long period of turmoil and significant drops.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.