Cardano moved to a six-week high on Friday, as consumer sentiment in the United States fell by more than expected. The University of Michigan’s monthly report fell to a reading of 62 in March, lower than the 63.2 sum markets were expecting. Chainlink also climbed, breaking out of a key resistance level.

Cardano (ADA)

Cardano (ADA) surged to a six-week high in today’s session, as markets reacted to the latest University of Michigan consumer sentiment report.

Sentiment in the United States fell to a reading of 62 in March, from a final sum of 67 the month prior.

ADA/USD surged to a peak of $0.4025 earlier in today’s session, following a low of $0.3709 on Thursday.

This move saw cardano climb to its strongest point since February 21, when the token reached a high of $0.4061.

Overall, the surge came as the 14-day relative strength index (RSI) moved beyond a ceiling at the 60.00 mark.

At the time of writing, the index is tracking at 63.67, which is close to a highest point of resistance at 64.00.

Chainlink (LINK)

Chainlink (LINK) rebounded from Thursday’s losses in today’s session, with the token climbing by as much as 5%

Following a low of $7.17 yesterday, LINK/USD raced to an intraday high of $7.65 on Friday.

As a result of the rally, chainlink once again moved above its long-term resistance at $7.55, hitting a one-week high in the process.

Looking at the chart, today’s breakout coincided with the RSI climbing past a ceiling of its own at 55.00

As of writing, the index is tracking at 57.54, which is marginally below a higher hurdle at the 58.00 point.

Should bulls move beyond this point, then there is a good chance that LINK will move towards $8.00.

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Do you expect chainlink to extend this rally into the weekend? Let us know your thoughts in the comments.

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According to statistics, the number of non-fungible token (NFT) sales in March was 31.42% lower than the previous month, dropping from $1.03 billion in sales for February to $882.89 million. The number of NFT buyers and transactions also declined, by 22% to 29%, over the last 30 days.

March NFT Sales Slow, Ethereum Sales Dominate by Over 60%

In March, sales of non-fungible tokens (NFTs) dropped by 31% compared to the previous month, as the number of buyers and transactions declined. Data shows that in February, NFT sales reached $1.03 billion, but statistics for the last day of March indicate that sales over the last 30 days amounted to $882.89 million. Of these sales, $537.89 million were settled on the Ethereum (ETH) blockchain, which dominated March sales with more than 60%. Solana-based NFT sales accounted for 10.57% of March sales, with $93.36 million recorded.

In terms of NFT sales, Solana was followed by Polygon ($36.16 million), Immutable X ($28.82 million), and Cardano ($10.08 million). The top-selling NFT collection in March was Bored Ape Yacht Club (BAYC), which generated $35.81 million in sales, although this figure represented a 48.19% decline from the previous month. Cryptopunks was the second largest NFT collection in terms of sales, with $30.11 million, an increase of 87.95% compared to February.

According to statistics from cryptoslam.io, the Bored Ape Yacht Club (BAYC) and Cryptopunks NFT collections were followed by Otherdeed ($29.20 million), MG Land ($25.71 million), and HV-MTL ($18.59 million). Among the top ten NFT collections, Degods saw a 70.53% increase in sales in March compared to February, just below the 87.95% increase that Cryptopunks experienced over the same period. Other notable collections that saw increases in sales this month include Y00ts, Claynosaurz, and Whiko NFT.

The most expensive NFT sales this month were Azimuth Points #236, which sold for $704,000, followed by Bored Ape Yacht Club (BAYC) #5,116, which sold for $689,000, and Fidenza #971, which sold for $561,000. BAYC #2,062 sold for $557,000 five days ago, while Fidenza #395 sold for $547,000 just over a month ago. According to 30-day statistics, no NFTs sold for over a million dollars in March. According to Dappradar.com and Dune Analytics, Blur dominated sales with over 70%, while Opensea captured 19.9%.

What do you think caused the decline in NFT sales and transactions in March, and do you believe this is a temporary setback or a sign of a larger trend? Let us know your thoughts in the comments below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Bitcoin was once again trading below the $28,000 level on Friday, as markets consolidated ahead of a key day of economic data. The University of Michigan releases its monthly consumer sentiment report, which is expected to come in lower than February’s sum. Ethereum also declined in today’s session.

Bitcoin

Bitcoin (BTC) fell below the $28,000 level on Friday, as markets consolidated ahead of a key day of economic data.

BTC/USD slipped to an intraday low of $27,583.72 in today’s session, which comes a day after the price rose to a high of $28,683.53.

The decline came as traders were unable to sustain a breakout above the $28,500 level, following a nine-month high the day prior.

Overall, it appears that earlier bulls moved to secure gains, as the 14-day relative strength index (RSI) collided with a ceiling at 65.00.

As of writing, the index is tracking at the 60.84 level, which is marginally above a lower floor at 59.00.

BTC is now trading at $27,928.58, however there will likely be some movement following this afternoon’s data release.

Ethereum

Ethereum (ETH) was once again trading below $1,800, as prices failed to breakout from a recent key resistance point.

Following a high of $1,827.28 on Thursday, ETH/USD fell to an intraday low of $1,766.25 in today’s session.

Friday’s sell-off transpired as ETH bulls were unable to move beyond a long-term ceiling at $1,830.

The world’s second largest cryptocurrency is now trading at $1,795.69, which seemingly suggests that some bullish sentiment still remains in the market.

This seems to be a result of price strength failing to drop below a floor at 52.00, and it has since moved to a reading at 57.35.

Should the RSI surge past the 58.00 mark, which is the next visible point of resistance, then ETH will likely be back above $1,800.

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Will ethereum start April trading above $1,800? Leave your thoughts in the comments below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.