Bitcoin Recovers from $39k, Cardano’s ADA Sets Monthly Low, EverGrow Coin Surging
crypto coins are slowly recovering from last week’s price drop.
What’s happening with cryptocurrency prices today, April 14?
Yesterday saw the crypto industry shed $160 billion as the total market cap fell to $1.84 trillion, the lowest figure since March 18. Today so far the market has recovered to $1.86 trillion as trading volume has also grown to over $100 billion. This suggests the market has found support and prices are briefly rising once more.
All but 5 of the top 50 major crypto tokens (ex. stablecoins) are still in the red. Bitcoin closed on April 12 with a price of $39,520 with a tall red candle down from $42,150. Today prices have recovered to $41,057 but there’s a way to go for Bitcoin to reach its 20-week SMA at $43,722.
Bitcoin yesterday saw a tall red candle as prices fall below the 20-week SMA (purple) and 21-week EMA (blue). Source: TradingView
Cardano set a monthly low
Solana and Cardano have lost more than 10% in price over the past week. Solana has lost 1% in price over the last 24 hours as it drops back into 7th place (behind XRP) in the CoinMarketCap rankings.
Cardano’s ADA token is valued at $0.96, up from a monthly low of $0.92 at the close of yesterday’s trading. ADA is showing a green candle today though needs to bounce off current support levels if it’s to hold above the 20-week SMA at $1.150.
LUNA has lost 18% in price in the past week and has fallen behind Cardano into 9th place in the CoinMarketCap rankings. LUNA’s losses in the past seven days are the highest of the crypto top 20, though LUNA did put in a new all-time high in early April as it hit a price of $119. LUNA is currently trading at $86.77.
Cardano is also finding support today after being rejected by its 20-week SMA and 21-week EMA. Source: TradingView
Altcoins surging: NEAR Protocol, Monero, and EverGrow Coin
Amid a general market downturn, a number of altcoins are in the green. EverGrow Coin has rebounded 5.5% from yesterday’s lows as investors race to buy the recent dip of $0.00000036. EverGrow Coin is currently trading at $0.000000376331. The altcoin just launched on the DigiFinex crypto exchange where its price is currently $0.000000438 – showing a 22% growth in the last few hours.
EverGrow Coin has a market cap of around $230 million, placing it just outside the crypto top 100, however its investors base has swelled to 137,000 in recent days in anticipation of new applications. This month EverGrow Coin will drop an NFT marketplace on the Binance Smart Chain (now BNB Chain) and a content subscription platform called Crator.
The cloud-based NEAR Protocol is also up 7.7% in the last 24 hours after it leapt into the crypto top 20 earlier this month. NEAR has attracted developers thanks to its easy-to-use interface, fast processing speeds, and low costs. NEAR is trading at $16.7.
Monero is one of few altcoins in the green both in the past 24 hours (8.3%) and in the past week (7.8%). Monero is a leading privacy coin that allows anonymous transactions, however, this has led to speculation the crypto is perhaps being used to evade sanctions across the globe. XMR is trading at $244.39.
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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