thenewscrypto.com
- Cardano (ADA) surged 8.52% to $1.00, topping today’s crypto market gains.
- Global crypto market cap reached $3.3T with $70.29B in 24-hour volume.
Cardano (ADA) led today’s crypto market gains, climbing by 8.52% in the past 24 hours. It briefly reached $1.03 before retreating to $1.00. The global crypto market cap stands at $3.3 trillion, reflecting a 0.48% increase over the past day.
However, the total crypto market volume fell by 47.64% to $70.29 billion in the same period. ADA’s market cap hit $35.23 billion, while its trading volume rose 11.05% to $1.27 billion. This surge may coincide with Cardano’s recent partnership with FC Barcelona to boost fan engagement and on-chain transactions. Despite the positive momentum, ADA remains constrained under the critical $1.00 resistance level due to limited investor activity.
Bullish Indicators for ADA
Cardano’s RSI is at 56.22, indicating neutral momentum but trending toward bullish territory. The RSI average of 47.02 shows a gradual recovery in market sentiment. The Chaikin Money Flow (CMF) is positive at 0.09, signaling increased capital inflows into ADA.
Key resistance is positioned at $1.05. ADA could target $1.10 as the next major resistance level if broken. Support rests at $0.95. A breach below this could drive the price lower to $0.90.
Moving averages provide a mixed signal. The 20-period MA crossing above the 50-period MA reflects a short-term bullish trend. The price trading above the 100-period MA also reinforces optimism. However, sustained gains require stronger buying volume. The market shows no significant crossover divergence, which suggests a steady consolidation phase.
If current momentum holds, ADA could continue testing resistance levels. Cardano’s technical indicators point to a consolidating market with potential for gains. Breaking $1.05 is critical for a bullish continuation, targeting $1.10 or higher. However, the broader market’s declining volume could weigh on ADA’s performance.