As a seasoned crypto investor with battle-scarred fingers and a heart full of stories from the volatile cryptoverse, today’s bullish momentum for Cardano (ADA) feels like a refreshing breeze amidst the stormy seas we often navigate. The 7% price surge in just 24 hours, coupled with the whopping 83.12% increase in trading volume, is undeniably captivating.
Today, Cardano (ADA) is experiencing a strong surge in positive market movement. Alongside an appreciable price rise, there’s also a substantial spike in trading action. As per CoinGlass, the trading volume of ADA has skyrocketed by 83.12% within the past 24 hours. At present, it stands at approximately $395.69 million, with this figure continuing to climb across all major cryptocurrency exchanges.
Data reveals that $180.16 million of the volume comes from Binance, $77.64 million from Bybit, $57.82 million from OKX, $25.15 million from BingX and $10.44 million from Bitget, among others. These top crypto exchanges are seeing intense trading activity for ADA as traders have initiated strong buying activity.
There was a broader correction on the crypto market recently, as the ADA price also struggled. This support from traders was required by the coin to get some gains and perhaps trigger a more sustained price rally. Market sentiment seems to be shifting, and it is likely that this potential rally is more achievable from this point.
ADA price skyrockets 7%
Over the past day, CoinMarketCap reports that Cardano’s price has climbed by approximately 7.08%. At present, its value stands at $0.3595, marking a significant increase from its recent low points. Just around 20 hours ago, ADA was being traded at roughly $0.3306, and it reached a low of $0.307 on September 7th. During this period, there was intense downward pressure in the market.
Today’s rise in Cardano suggests that feelings are changing among traders, who are growing increasingly optimistic about ADA. The price of ADA has managed to recover from significant losses. Furthermore, there’s a strong possibility that further gains will be realized as the selling pressure appears to have diminished entirely. To reach its next target at the $0.3655 resistance level, ADA must first break through this barrier. Clearing this hurdle could pave the way for a more prolonged price surge.
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2024-09-12 16:14