- A support at $0.28 helped ADA jump to $03.1 as trading volume also increased.
- Should the RSI reading increase to 65, ADA may inch closer to $0.33.
- Long positions overshadowed shorts as buying momentum continues to rise.
Cardano (ADA) was not left out of the all-inclusive crypto market recovery, as Bitcoin (BTC) hit $35,500. For ADA, it was also a defining moment as the token crossed the almighty $0.30 psychological resistance.
As of this writing, ADA’s value had increased by 6.70% in the last 24 hours. This increase was also accompanied by a rise in its trading volume to $350.89 million. The spike in its volume points to high interest in ADA, and if the trend becomes stronger, there is a probability of a further price increase.
ADA Finds Support at $0.28
ADA’s jump to $0.30 was not just connected to the BTC pump. According to the ADA/USD 4-hour chart, crossing the psychological zone was born out of the fact that bulls were able to resist another plunge at $0.28.
Seeing that sellers had become exhausted, the $0.28 level became a strong support level, which bulls took advantage of as ADA rose to $0.31. At press time, there has been a minor rejectio…
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