Cardano

bullish

<ul>
 <li>At the time of writing, ADA is trading at $0.4178, up 1.29% in the last 24 hours.</li>
 <li>Earlier, the price failed to clear above $0.45 level, after a prolonged bullish momentum.</li>
</ul>
Since the beginning of the week, <a href="https://thenewscrypto.com/can-bitcoin-btc-escalate-to-70k-shortly/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s</a> (BTC) momentum over $65K has been consistent. The asset’s value has increased to $68K due to the market’s greedy sentiment. Prominent Bitcoin advocates and institutional investors are fueling this increase.
Charles Hoskinson, founder of <a href="https://thenewscrypto.com/cardano-ada-poised-for-breakout-as-falling-wedge-pattern-signal-bullish-reversal/" target="_blank" rel="noopener noreferrer nofollow">Cardano</a>, has openly questioned Peter Schiff’s comprehension of Bitcoin. Peter Schiff has often expressed his doubts about Bitcoin, earning him a reputation as an anti-Bitcoin activist. Schiff has referred to Bitcoin as a “pyramid scheme” fraud in a string of recent X postings.
<h3 class="wp-block-heading" id="h-bulls-getting-back-control">Bulls Getting Back Control</h3>
There has been a meteoric rise in the volume of big transactions on the Cardano (ADA) network. In particular, the volume from big ADA holders reached a new record high of around 17 billion units in only one day, the highest volume observed so far this week.
Any transaction with a value more than $100,000 is considered a significant transaction according to IntoTheBlock, an on-chain analytics platform. This indicates that the number of transactions over $100,000 surged to 17.78 billion in only one day.
At the time of writing, ADA is trading at $0.4178, up 1.29% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 34.78%. Earlier, the price failed to clear above $0.45 level, after a prolonged bullish momentum. The price faced brief correction from this level and found support at $0.38 level and has recently rebounded.
If the price manages to break above $0.42 level, then it will likely climb further to test $0.45 resistance level. However, if the price manages to fall below $0.41 level, then it will likely test $0.38 support level. Further decline will likely see price testing $0.34 mark.

Cardano (ADA) Price Rebounds After Finding Support at $0.38 Level

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TheNewsCrypto

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