The bulls were entering the market while the bear was heading out. Cardano [ADA] was the star of today’s bull run. With the entire market glistening in green, ADA was leading this abrupt surge.
Bitcoin [BTC] was back at $45K, however, the asset garnered no major profits throughout the day. However, Ethereum [ETH] and Binance Coin [BNB] were seen making the most of this.
Over the last couple of days, Cardano [ADA] has been recording significant surge. It seemed like the altcoin persisted this notion. At the time of writing, Cardano [ADA] was trading for $1.94 with a 9.90% surge over the last 24-hours. Over the last seven days, the asset bagged gains of about 40%.
The asset was close to taking over the largest stablecoin Tether [USDT] by market cap and ranking. During press time, ADA’s market cap was at $62.15 billion and the altcoin was taking over the fifth rank.
Cardano [ADA] one-hour price chart on Binance
The short-term price chart of ADA on Binance noticed bull settlements. The Bollinger Bands indicator used in the above chart suggested that the bands were diverging. This further indicated an increase in volatility. The possible surge in volatility would be good for the asset as the bulls were in its market. The Awesome Oscillator indicator formed green closing bars and announced the presence of bulls.
The Relative Strength Index indicator was dwelling in the buyers’ side as the RSI marker was way over the 50 median.
Cardano [ADA] one-hour price chart on Binance
The one-day price chart of the altcoin mirrored the short term chart of ADA. The bulls were here to stay as both the charts noted strong bullish momentum. The Parabolic SAR indicator formulated a line of support and destroyed any possible downtrends. The Chaikin Money Flow indicator remained over the zero median on the bullish arena.
The Money Flow Index indicator noted that ADA was being overbought at the moment.