{"id":539739,"date":"2023-06-26T18:15:23","date_gmt":"2023-06-26T18:15:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=539739"},"modified":"2023-06-26T13:42:51","modified_gmt":"2023-06-26T13:42:51","slug":"cardano-ada-soars-10-in-the-last-week-more-rallies-ahead","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cardano\/cardano-ada-soars-10-in-the-last-week-more-rallies-ahead\/","title":{"rendered":"Cardano (ADA) Soars 10% In The Last Week, More Rallies Ahead?"},"content":{"rendered":"
Cardano’s (ADA) price has scored over 10% on the weekly <\/span>chart<\/span> as the broader market sees a correction.\u00a0<\/span>Most coins registered unexpected price surges amid the resurgent crypto market last week. However, <\/span>ADA, the native token of the Cardano blockchain, stood out among the digital tokens with a notable price surge over five consecutive days of the rally.\u00a0<\/span><\/p>\n With a 20% increase on last week’s Monday trading session, ADA’s price spiked above $0.30.\u00a0<\/span>Although the ongoing market correction has stalled the token\u2019s price rally, it still retains a 10.57% price increase.\u00a0<\/span><\/p>\n The increased number of ADA transactions captured over the last month by Cardano Blockchain <\/span>data<\/span><\/a> hasn’t significantly affected the token’s price.\u00a0<\/span>Hence, ADA’s price elevation over the past few days seems more connected to external factors than development events on the Cardano network.<\/span><\/p>\n Related Reading: Lightning Network Hits Record Highs In Bitcoin And US Dollar Capacity<\/a><\/p>\n Fortunately, the recent market movements driven by the increasing institutional interest in Bitcoin coincided with ADA’s price trajectory.\u00a0<\/span>Most of the buzz generated in the market came from the news of <\/span>BlackRock\u2019s spot BTC ETF application<\/span>, followed by WisdomTree, Invesco, and <\/span>Volatility Shares\u2019<\/span> ETF filings.<\/span><\/p>\n Interestingly, observers perceive Cardano (ADA)\u2019s price recent rally as part of the broader market dynamics triggered by the rising institutional attention on Bitcoin and crypto.\u00a0<\/span>As of Sunday, June 25, ADA traded at $0.29, a 2.67% price gain from its previous day\u2019s valuation.<\/span><\/p>\n After the notable price increase in the past few days, the bulls have taken a break as the bullish momentum stalls.\u00a0<\/span>As of the time of writing, <\/span>Cardano’s (ADA) price<\/span><\/a> has tumbled 2.74% from its past-day price and now trades at $0.288.\u00a0<\/span><\/p>\n ADA has reclaimed $0.288 as its primary support level after the bulls failed to push the price higher. <\/span>The pullback may be considered a typical occurrence given the rapid price surge in the last week. <\/span>The token\u2019s trading volume slumped slightly over the weekend, with a 24-hour decline of 25.45%. ADA’s market capitalization has declined by 2.80% and is at $10 billion at press time.<\/span><\/p>\n Also, ADA\/USD Price Chart on <\/span>TradingView<\/span><\/a> shows the coin is trading below the 50-day and 200-day Simple Moving Averages, signifying a bearish trend in the short and long term. <\/span>As of the time of analysis, the bulls are losing control, and the bears could take back control of the market once the price relapses deeper.\u00a0<\/span><\/p>\nADA\u2019s Recent Price Performance<\/span><\/h2>\n
ADA Price Outlook<\/span><\/h2>\n