Cardano (ADA) price extends its bullish momentum, rallying more than 10% on Wednesday and reaching levels not seen since early May 2022.
Cardano surges to over two-year high as on-chain metrics show bullish bias Cardano price extends its bullish momentum, rallying more than 10% on Wednesday and reaching levels not seen since early May 2022. On-chain data further supports this rally as ADA’s whale transaction, trading volume, and open interest all rise, reaching record levels. The technical outlook also suggests a continuation of the rally, setting the next target at the key psychological level of $1.00.
This suggests it could still be forming a fourth wave, potentially a triangle, especially if we will be able to count this as an ABCDE pattern. If confirmed, we would anticipate another push to the upside, possibly targeting the 3,500 area. The crypto market loses some spark The cryptocurrency market cap is up 0.3% in 24 hours to $ 3.09 trillion. This slight increase masks an impressive altcoin pullback that failed to cap the 1% rise in BTC.
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