Aethir holds steady above $0.06000 at the time of writing on Thursday, following a 13% rise on Wednesday. The computing token extends the trendline breakout rally with a bounce back from the 61.8% Fibonacci retracement level at $0.05565, which is drawn from the $0.09326 peak of December 12 to the $0.02413 low of April 7. The ATH rally targets the 78.6% Fibonacci retracement level at $0.06983 as bullish momentum builds.
Cardano (ADA) is trading in the red at around $0.80 as of Thursday’s writing, following a close below the ascending trendline earlier this week. On-chain data paints a bearish picture as holders realize profits and increase selling pressure. Furthermore, the technical outlook suggests a potential correction is on the horizon, with bears targeting the $0.70 mark.
Ethereum (ETH) bounced off the $4,000 support on Wednesday as its funding rates flipped negative amid steady outflows in ETFs tracking its price. Ethereum funding rates turned negative on Wednesday, marking the second time this week, after flashing red on Monday following the large leverage flush. The top altcoin’s funding rates declined to -0.0021 over the past 24 hours, marking a deeper decline than that of Monday.
