Most market indicators hinted at a continued price rise.Cardano In fact, ADA bulls entered the market as the token’s price broke above a critical resistance zone, hinting at a massive bull rally ahead.revealed that Cardano’s price had increased by more than 8% in the last seven days, as it gained bullish momentum on the 15th of May.
However, the recent price pump wasn’t enough to allow the majority of ADA investors to earn profits. As per our look at IntoTheBlock’sBut this scenario might change soon as ADA broke above a bullish pattern.highlighting that ADA’s price broke above a bullish flag pattern that formed on its 8-hour chart.
As per our analysis of Santiment’s data, ADA’s MVRV ratio improved, which can be inferred as a bullish indicator.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardano: Why 50% of ADA holders may soon be ‘in the money’In a surprising move, Cardano [ADA] became the best-performing asset out of the cryptocurrencies in the top 10. At press time, ADA changed
Source: CryptoAmb - 🏆 22. / 68 Read more »
Cardano whales’ behaviour means THIS for ADA’s price and its tradersThere has been a noteworthy shift in Cardano's token supply distribution. In fact, analysis revealed that wallets holding 100 million to...
Source: CryptoAmb - 🏆 22. / 68 Read more »
Cardano price prediction – Did Bitcoin’s 8% gains finally rescue ADA?Cardano's price action has been interesting lately. What does this mean for ADA's price prediction in the days ahead though?
Source: CryptoAmb - 🏆 22. / 68 Read more »
Can Cardano whales help overcome ADA’s 7% drop in value?Cardano [ADA] whale activity has seen a significant resurgence in the last month, according to data from IntoTheBlock.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Cardano price prediction: Why ADA can drop 30% to $0.3The Fibonacci levels plotted based on Cardano's drop from $0.81 in March showed that the 23.6% southward extension was the next target.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Cardano’s short positions increase: What should you do with your ADA?Short positions against ADA experienced a notable increase. Will the price of ADA be impacted negatively by this as well?
Source: CryptoAmb - 🏆 22. / 68 Read more »