The bull had entered the market and Cardano [ADA] was preceding this parade. Volatility had undoubtedly struck the market. Just yesterday, the crypto market was painted in red and certain assets were even seen witnessing a double-digit drop. However, the bull had taken over and scattered green all over the market.
Recovery was the emotion that was surfing the market. Bitcoin [BTC] jumped from $41K to $42K while its market cap climbed back over $800 billion. Ethereum [ETH] was seen upholding its efforts to move beyond $3K. Despite a 4.80% surge in the last 24-hours, ETH was still stuck at $2.9K.
Cardano [ADA] was the star of today’s crypto market. Even yesterday, the altcoin barely endured a significant loss. ADA was the first to find its way back into recovery. At the time of writing, ADA was trading for $2.33 with a 10.47% rise in the last previous 24-hours. When compared to the other assets, ADA had a favorable week. The altcoin experienced a loss of about 3.56% while other coins like Binance Coin [BNB] had lost 16% of gains.
ADA had established a stronghold on the third rank. With a market cap of $75 billion, ADA seemed undefeated. The overall market cap took a hit and dipped down below $2 trillion.
Cardano [ADA] one-hour price chart on Binance
The short-term price chart of the trading pair ADA/USD revealed contradicting notions. The Awesome Oscillator indicator alerted a trend reversal. The indicator laid out red closing bars and announced the presence of bears in the ADA market. The MACD indicator was currently in a bullish crossover. However, the MACD line and the signal line were remarkably close to each other. The indicator looked like it would soon be heading in for a bearish crossover.
The Relative Strength Index [RSI] indicator noted that Cardano was still in the buyers’ arena. However, the RSI marker was pointed earthwards onto the sellers’ side.
