Cardano (ADA) Price Breaks Through $0.5, Hinting at Rally Ahead

ICYMI: $ADA surpasses $0.5 after the release of Ethereum-based $USDC bridge on Cardano CardanoADA CardanoCommunity

According to the daily chart, ADA is demonstrating signs of"bottoming out" as indicators like the Relative Strength Index are showing a divergence on the chart. After breaking through $0.5, Cardano's next target would be around $0.6 since it is the point of a previous reversal.The previously mentioned resistance point also correlates with the local descending trendline, moving through the chart at approximately $0.61.

On intraday charts like the four-hour one, we can clearly see the rounding up bottom, which is followed by the extreme drop of volatility and trading volume. Experts were previously anticipating at least a short-term reversal on altcoins after around eight or nine weeks of sell-off.The community of the cryptocurrency is more than happy to see a positive dynamic on the native asset of Cardano, as it remains one of the least profitable assets on the cryptocurrency market.

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