Rally

Cardano

2024

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<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.
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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

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