Rally

Cardano

2024

Read

<ul>
 <li>Cardano surged to $0.48, rejuvenating addresses holding $2.71 billion in tokens.</li>
 <li>ADA sustained around the 20-day EMA mark, suggesting a potential rebound amid a bearish market cycle.</li>
 <li>The surge in trading volume, over 35% this week, reflects heightened investor interest in ADA.</li>
</ul>
Cardano (ADA) has surged back to the $0.48 mark following a recent rally, a move that has breathed fresh life into addresses holding a staggering $2.71 billion worth of tokens.&nbsp;
In recent months, Cardano has endured a downward trajectory in price, grappling with the challenges of a bearish market cycle. However, amidst this turbulence, ADA has managed to sustain itself around the 20-day EMA mark, indicating a halt in its correction phase and hinting at a forthcoming rebound.&nbsp;
To fuel further gains, ADA must surpass the immediate hurdle of $0.500. At the time of writing, <a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">Cardano</a> is trading at $0.048, with a modest intraday surge of over 1.02%, signaling the emergence of a bullish sentiment. However, it’s worth noting that the ADA/BTC pair has yet to demonstrate a clear direction, with analysts maintaining a neutral stance while exercising caution.
The recent surge in trading volume has injected renewed vigor into the Cardano market. A notable uptick of over 35% in trading volume this week underscores growing investor interest in ADA.&nbsp;
This surge in demand has propelled the ADA price upwards by more than 15%, fueling speculation about a potential breakout. Moreover, the sharp increase in trading volume, reaching $460 million, reflects investors’ willingness to capitalize on the coin’s potential.
As Cardano continues to rebound, attention is increasingly focused on its performance vis-à-vis key technical indicators. The RSI has exhibited a bullish crossover, entering the overbought zone. Meanwhile, the surge in daily active addresses further attests to growing investor confidence in ADA’s trajectory.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/top-analyst-unveils-dogecoins-profitable-trading-levels/" rel="noopener noreferrer nofollow">Top Analyst Unveils Dogecoin’s Profitable Trading Levels</a></li>
 <li><a href="https://cryptonewsland.com/shib-starts-bullish-trend-2-21-trillion-tokens-moved-as-prices-skyrocket/" rel="noopener noreferrer nofollow">SHIB Starts Bullish Trend: 2.21 Trillion Tokens Moved as Prices Skyrocket</a></li>
 <li><a href="https://cryptonewsland.com/avalanche-over-75-wallets-profiting-price-surging-toward-30/" rel="noopener noreferrer nofollow">Avalanche: Over 75% Wallets Profiting, Price Surging Toward $30</a></li>
 <li><a href="https://cryptonewsland.com/top-profitable-trader-on-youtube-reveals-his-strategy-for-the-bull-run-shares-top-3-cryptos-to-buy-in-february-2024/" rel="noopener noreferrer nofollow">Top profitable trader on Youtube reveals his strategy for the bull run, shares top 3 cryptos to buy in February 2024</a></li>
 <li><a href="https://cryptonewsland.com/nftart-boosts-price-to-over-300-is-it-a-good-investment/" rel="noopener noreferrer nofollow">NFTART Boosts Price to Over +300%. Is It a Good Investment?</a></li>
</ul>
The post <a href="https://cryptonewsland.com/cardanos-resurgence-addresses-profitable-again-after-rally/" rel="noopener noreferrer nofollow">Cardano’s Resurgence: Addresses Profitable Again After Rally</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Cardano’s Resurgence: Addresses Profitable Again After Rally

Crypto News Land

Other articles published on May 18, 2024

BEFE Coin’s Journey: From $100 to $300K

Dogecoin Founder Defends Elon Musk’s X On Key Algorithm Feature

Why Ethena (ENA) Is Up By 10% Today

Solana trader nets $780K in 15 minutes, rising altcoin wins over Ripple whales

Investors Eye Ethena’s Price Surge

Ripple Sells Over 841 Million XRP in Q1 2024, Holding Drops to 44.9 Billion

Join our free newsletter for daily crypto updates!