All the coins seemed to be following the footsteps of Bitcoin [BTC]. Cardano [ADA], Binance Coin [BNB], and an array of coins were surging by a huge margin. The global market cap of the crypto industry was very close to $2 trillion. Just as BTC’s market cap shot up to $1.09 trillion, the overall market value of the industry reached $1.80 trillion. The king coin’s remained at 60% while its price surged to $58K. While all the assets were experiencing an uptrend Cardano [ADA]. undoubtedly stood out as it soared by 19% in the last 24-hours.
At the time of writing, ADA was trading for $1.46. The altcoin was seen trying to push past $1 for quite a while now. The asset seemed to be getting close to its previous all-time high of $1.48. The market cap of ADA helped the asset score a seat as the third-largest cryptocurrency. During press time, ADA’s market cap was noted at $49 billion.
Cardano [ADA] One-Hour Price Chart On Kraken
The bears didn’t seem to have found it settling that ADA was rising without a blip. Therefore, they decided to make an entry into the market. The Klinger Oscillator formed a bearish crossover. The Bollinger Bands indicator suggested that the asset could endure a steep fall as the bands were wide apart. This disparity between the bands usually points out volatility in the respective market.
The Relative Strength Index indicator pointed out that the altcoin was being overbought on its short-term price chart.
Cardano [ADA] One-Day Price Chart On Kraken
The one-day price chart of ADA, however, restored hope into the market. The MACD indicator went in for a bullish crossover as the MACD line was slowly trying to surge over the signal line. The Chaikin Money Flow was momentarily in the bullish realm. Yet, the marker was pointing earthward which could mean that the asset could be heading towards the bearish arena.
The Money Flow Index indicator was noted in the buyers’ zone.