EOS and ADA Surge Bitcoin Recovers to $4,050: Factors Behind the Rally

BTC is ‘neccing’ but alternative cryptocurrency ratio pairs are going up… what does this mean? This isn’t ordinary price action. I don’t know exactly what is going to happen (of course I don’t, I’m not a wizard), but this doesn’t seem like a typical dump at all. Yes – everything certainly could collapse into fire in the next hour, but my gut says we go up from here. Alternative cryptocurrencies looking bullish.
My analysis remains unchanged, as long as we are holding the grey. Bulls want to see $3900 hold and a close thru $3920 would be ideal, should that happen and we regain the top of the grey I like an upside break. Bears want to see $3900 fall, if that happens I expect $3,500,” said Mayne.
ADA, the native cryptocurrency of the Cardano blockchain network, has been on the rise since the launch of its 1.5 mainnet release, which is considered to be a monumental milestone for the last phase of the development of the Cardano protocol.
The progress in the development roadmap of Cardano combined with the anticipation of investors towards the listing of ADA on Coinbase likely have fueled the short-term price movement of ADA. In the past month, the price of ADA surged from $0.040825 to $0.065987, by more than 61 percent against both bitcoin and the U.S. dollar.
EOS, the fifth most valuable crypto asset in the cryptocurrency market, has also demonstrated an impressive 30 percent rally in the past three weeks, possibly triggered by the growth of the number of decentralized applications (Dapps) on the network.