Cardano [ADA] prolongs its stay with the bear while Bitcoin [BTC] surges

Bitcoin [BTC] traders were finally in joy after the coin witnessed a 10% surge over the last 24-hours. The coin took a massive plunge from a low of $32K all the way to $38K. While several have been linking this jump to El Salvador’s recent crypto-positive move, a few others speculate that Bitcoin could get a serious boost this time.

At the time of writing, Bitcoin had was trading for $38,027 with a 10.14% rise in the last 24-hours. The market cap of BTC followed a similar notion as it soared to $710 billion. The asset had been residing down by $600 billion for quite a while now. Additionally, during press time, the overall market cap rose to $1.64 trillion.

Bitcoin [BTC] one-day price chart on Binance

The one-day price chart of Bitcoin alerted the market of the arrival of the bull. While the volume in the BTC market remained neutral, the Relative Strength Index [RSI] indicator pointed out a sellers’ market as the marker was below the 50 median.

The Awesome Oscillator indicator with green closing bars affirmed the presence of the bull. The MACD line took over the signal line earlier this month and persisted in the bullish crossover.

Cardano [ADA] one-day price chart on Binance

ADA, at press time, was trading for $1.58 with a 1% rise over the last 24-hours. The altcoin took a major hit after it dropped by 13% over the last seven days. Despite this plummet, the coin’s market cap remained intact at $50 billion further allowing ADA to prolong its stay as the fifth-largest cryptocurrency.

Unlike Bitcoin, ADA was seen harboring both, the bear as well as the bull in its one-day price chart. The Parabolic SAR indicator formed a line of resistance over the candlesticks dementing ADA’s chances of an uptrend. The Chaikin Money Flow indicator, however, remained in the bullish arena. The Money Flow Index inclined towards the neutral side as no major buying or selling activity was noted in the ADA market.