{"id":26790,"date":"2023-07-14T10:53:07","date_gmt":"2023-07-14T14:53:07","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26790"},"modified":"2023-07-14T10:53:07","modified_gmt":"2023-07-14T14:53:07","slug":"cardano-bulls-reclaim-control-as-ada-rallies-28","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/14\/cardano-bulls-reclaim-control-as-ada-rallies-28\/","title":{"rendered":"Cardano Bulls Reclaim Control As ADA Rallies 28%"},"content":{"rendered":"

Following Ripple (XRP)\u2019s victory in court yesterday, there is a general bullish wave currently sweeping across the crypto market. According to data from CoinMarketCap<\/a>, Cardano (ADA) has gained by 28.43% in the last 24 hours, with several other altcoins also posting double digits gains.<\/p>\n

Cardano (ADA) Price Action And Analysis<\/h2>\n

Prior to its price boost yesterday, ADA had shown little to no movement all week, hovering around the $0.29 price mark. However, the token\u2019s price spiked yesterday afternoon, reaching as high as $0.37 for the first time since early June.<\/p>\n

Related Reading: XRP Price Retreats After Massive 80% Rally, Buy The Dips?<\/a><\/p>\n

Looking at its broader performance, Cardano has had a mixed-price action since the start of 2023. The altcoin began the year in style, gaining over 70% to trade at $0.41 as of February 16.<\/p>\n

This price surge was, however,\u00a0 followed by a bearish trend bringing the token\u2019s price as low as $0.30 on March 10. Thereafter, ADA would resume its bullish trajectory, rising to its highest price so far in 2023 at $0.45 on April 16.\u00a0<\/p>\n

Over the next two months, Cardano\u2019s price slumped once again before showing sideways movement over the last three weeks.<\/p>\n

Analyzing its 4-Hour Chart, ADA has encountered resistance at the $0.38 price zone and appears to be experiencing a recorrection. However, a rise in selling pressure could result in the token trading as low as $0.28, which marks its imminent support level.<\/p>\n

On the other hand, if the bulls retake control and manage to push past the $0.38 resistance price level, ADA is likely to rise to $0.42, which represents the next major resistance level.\u00a0<\/p>\n

At the time of writing, ADA is trading at $0.35 with a 2.30% loss in the last hour. The token\u2019s trading volume is up by a stunning 808.08% and is valued at $1.4 billion. With a market cap of $12.3 billion, Cardano is ranked as the 7th biggest cryptocurrency in the world.<\/p>\n

Ripple\u2019s Victory Sparks Altcoin Rally<\/h2>\n

Yesterday afternoon,\u00a0 U.S. Judge Analisa Torres ruled that<\/a> XRP is not a security in the ongoing Ripple vs. SEC case. On the emergence of this news, the crypto market experienced a price boost, with mainly altcoins notching significant gains.<\/p>\n

Asides from Cardano (ADA), coins such as Solana (SOL), Avalanche (AVAX), and Polygon (MATIC), are also on the rise, recording profits at 31.98%, 14.50%, and 17.76%, respectively, in the last 24 hours.<\/p>\n

Related Reading: Optimism (OP) Rides The Wave Of Today\u2019s Crypto Surge With 15% Rally<\/a><\/p>\n

That said, the premier cryptocurrency was not left out of the current market surge. Bitcoin has gained by 2.81% in the last day to trade above $31,000 again. At the time of writing, the total crypto market cap is valued at $1.26 trillion, with a 6.39% increase in a single day.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Following Ripple (XRP)\u2019s victory in court yesterday, there is a general bullish wave currently sweeping across the crypto market. According to data from CoinMarketCap<\/a>, Cardano (ADA) has gained by 28.43% in the last 24 hours, with several other altcoins also posting double digits gains.<\/p>\n

Cardano (ADA) Price Action And Analysis<\/h2>\n

Prior to its price boost yesterday, ADA had shown little to no movement all week, hovering around the $0.29 price mark. However, the token\u2019s price spiked yesterday afternoon, reaching as high as $0.37 for the first time since early June.<\/p>\n

Related Reading: XRP Price Retreats After Massive 80% Rally, Buy The Dips?<\/a><\/p>\n

Looking at its broader performance, Cardano has had a mixed-price action since the start of 2023. The altcoin began the year in style, gaining over 70% to trade at $0.41 as of February 16.<\/p>\n

This price surge was, however,\u00a0 followed by a bearish trend bringing the token\u2019s price as low as $0.30 on March 10. Thereafter, ADA would resume its bullish trajectory, rising to its highest price so far in 2023 at $0.45 on April 16.\u00a0<\/p>\n

Over the next two months, Cardano\u2019s price slumped once again before showing sideways movement over the last three weeks.<\/p>\n

Analyzing its 4-Hour Chart, ADA has encountered resistance at the $0.38 price zone and appears to be experiencing a recorrection. However, a rise in selling pressure could result in the token trading as low as $0.28, which marks its imminent support level.<\/p>\n

On the other hand, if the bulls retake control and manage to push past the $0.38 resistance price level, ADA is likely to rise to $0.42, which represents the next major resistance level.\u00a0<\/p>\n

At the time of writing, ADA is trading at $0.35 with a 2.30% loss in the last hour. The token\u2019s trading volume is up by a stunning 808.08% and is valued at $1.4 billion. With a market cap of $12.3 billion, Cardano is ranked as the 7th biggest cryptocurrency in the world.<\/p>\n

Ripple\u2019s Victory Sparks Altcoin Rally<\/h2>\n

Yesterday afternoon,\u00a0 U.S. Judge Analisa Torres ruled that<\/a> XRP is not a security in the ongoing Ripple vs. SEC case. On the emergence of this news, the crypto market experienced a price boost, with mainly altcoins notching significant gains.<\/p>\n

Asides from Cardano (ADA), coins such as Solana (SOL), Avalanche (AVAX), and Polygon (MATIC), are also on the rise, recording profits at 31.98%, 14.50%, and 17.76%, respectively, in the last 24 hours.<\/p>\n

Related Reading: Optimism (OP) Rides The Wave Of Today\u2019s Crypto Surge With 15% Rally<\/a><\/p>\n

That said, the premier cryptocurrency was not left out of the current market surge. Bitcoin has gained by 2.81% in the last day to trade above $31,000 again. At the time of writing, the total crypto market cap is valued at $1.26 trillion, with a 6.39% increase in a single day.\u00a0<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-26790","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=26790"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26790\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26790"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}