Cardano Shows Bullish Promise; Crypto Market in Upward Trend

Cardano
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    • Cardano has shown signs of a bullish trend, as its value went up to 1.6 today.
    • Bitcoin, Dogecoin, Shiba Inu have also zoomed up in the crypto market.
    • Crypto Market has been on an uptrend in the last few days.

Two days ago, Cardano (ADA) saw an upswing in the $1.1 key support, in sync with the market’s renewed bullish reversal. With today’s opening price, Cardano has shown that it is shooting to break above the $1.2 resistance by starting its trading at a decent price of $1.14. After a few hours, ADA price even went as high as $1.19, as per CoinGecko.

This performance signals that ADA might be able to rise higher and break its resistance level of $1.28. As a result, Cardano might be able to surge even higher and regain the bullish position it had in the past months.

For two weeks, Cardano’s price has been trading between the $1 and $1.12 range, which indicates a momentary consolidation. But, after moments of continuous tugging, the bulls appeared to have won by reestablishing a support level at $1.12.

In January, Cardano had an opening value of $1.3, with the highest value point of $1.6. The last few months saw a downward trend for ADA in contrast to the September 2021 highs of $3.1.

ADA/USDT 1-hr chart (source: TradingView)

In other news, Bitcoin is currently hanging around the value of $42,494.4. Although BTC’s value dipped, now it seems to be getting back up. Meme coin Shiba Inu and Dogecoin surged by as high as 31.5% and 12.1%, respectively.

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Disclaimer: Tất cả những thông tin trên bài viết chỉ nhằm mục đích chia sẻ những trải nghiệm trên thị trường và không được coi là lời khuyên đầu tư. Đầu tư Crypto là một hình thức đầu tư mạo hiểm và chỉ nên tham
gia với số vốn có thể mất.

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