Cardano Bullish Momentum: ADA Targets Range High Post Support Flip

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	10,017,774,846	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

10,017,774,846

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00000200	-10.53%	0.000017	0.000017	0.000017

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00000200

-10.53%

0.000017

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000019	0.000017	0.000019	0.000019	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000019

0.000017

0.000019

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:33:32	220,858,429.00	0.000017	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:33:32

220,858,429.00

0.000017

USD

Price x Volume	Volume	Base Symbol	Related Pairs
78,158,611.31	210,396,347,526.72	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

78,158,611.31

210,396,347,526.72

Cardano Bullish Momentum: ADA Targets Range High Post Support Flip

04/10/2023 2:00pm

NEWSBTC

Cardano (ADA) saw its market structure undergo a significant bullish transformation following a series of recent gains. This rally, which began in late September, has propelled ADA’s price up by more than 10% in just one week, measured from its lowest point to the recent peak. Although ADA experienced a retracement in the past few hours, it has managed to retain its overall bullish outlook. The initial signs weren’t entirely encouraging, as evidence from volume indicators hinted at dwindling buying pressure. Nevertheless, the bulls rallied with determination, successfully defending the critical $0.24 level. As of the latest data, ADA is priced at $0.254 on CoinGecko, representing a marginal 3.1% decline over the past 24 hours. However, over the course of the last seven days, it has recorded a noteworthy gain of 5%. Related Reading: Is Dogecoin On Life Support? Analyzing Its Recent Price Downturn ADA Technical Indicators Analysts closely monitoring ADA’s price action have pointed toward a potential move to a range high of $0.28. For traders eyeing long positions, a lower timeframe bullish structure break could provide an entry point, targeting the range’s high. The Relative Strength Index (RSI) has also made a promising climb back above the neutral 50 mark, while the On-Balance Volume (OBV) exhibits an encouraging uptick. The big question now looms: will the existing demand be sufficient to fuel a sustained rally? Whether this demand will be sufficient to fuel a sustained rally remains a subject of speculation. ADA market cap currently at $9.02 billion. Chart: TradingView.com Cardano Potential Amidst Shifting Market Trends Meanwhile, Cardano has attracted the attention of a separate analysis as one of the altcoins with the potential to capitalize on short profit windows. This opportunity emerges in the wake of Bitcoin’s recent surge, which catapulted it above the $28,000 mark. Analysis suggests that ADA could possibly decouple from broader market trends, presenting traders with a unique opportunity to capitalize on market divergences and seek profit. Cardano seven-day price action. Source: Coingecko ADA has exhibited resilience and determination in the face of fluctuating market dynamics. While initial signs pointed to a faltering of buying pressure, ADA has managed to pivot, defending the $0.24 level and setting its sights on the $0.28 mark. Related Reading: Shiba Inu Investors Beware: 425 Billion Tokens On The Move – Is It A Sell-Out? The RSI and OBV indicators provide further encouragement to the bullish outlook. Moreover, the potential for ADA to break away from the larger market trends presents traders with an intriguing chance to capitalize on short-term profit opportunities. With the crypto market constantly evolving, Cardano’s resilience and ability to adapt to changing conditions make it an interesting asset to watch in the coming weeks. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock

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