- Cardano price analysis shows a firm bullish trend.
- ADA bulls are on the move to break the resistance of $0.34.
- Bulls aims to push ADA to higher levels.
As the market exhibits positive dynamics, the price analysis of Cardano displays growing trends. The Cardano market is now again entirely under the hands of the bulls, which will improve the market’s trajectory.
As a result, ADA currently anticipates that a fully bullish phase will take over in the coming days. In addition, the bulls will use every effort to keep the upper hand.
According to CoinMarketCap’s data, the price of the Cardano (ADA) tokens has risen by 15.91%, surpassing an intraday high of $0.327 and a market worth of $11.2 billion. Additionally, bulls in ADA are attempting to burst over the $0.34 resistance, as they have been in control of the coin since Monday when it hit a high of $0.307.
Moreover, On-chain data indicates that the ADA purchase volume has been increasing, especially on Binance. Further, this surge in buying is projected to lead to a long-term uptrend.
In the past 24 hours, Cardano has seen a 332.11% increase in trading volume and a 15.92% increase in market capitalization. This rise is mainly due to the strong buying pressure that has been driving up the price of Cardano.
Apart from this, 24-hour technical indications indicate an upswing. The MACD shows a bullish cross with the signal line far above the MACD line, while the RSI is in the overbought region at 73.13. This suggests that the buyers are in control and the bulls could be pushing ADA to higher levels.
All these factors combined have made Cardano a strong contender for an uptrend. The bulls seem to be in control and the price could continue its upward trajectory soon.
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