Cardano’s (ADA) price manages to trade in green on Friday following the previous two session’s declines. ADA price action shows resilience near the psychological level of support at $1.00. The containing of the critical level indicates a reduction in the bearish bias.
Cardano’s (ADA) price trades higher as the weekend begins.
ADA finds multiple support near the critical level of $1.01.
Expect an upside of 20% from the current reading.
As of press time, ADA/USD is trading at $1.03, up 1.41% for the day. The seventh-largest cryptocurrency by market cap holds the 24-hour trading volume of $1,067,701,311 with gains of nearly 7% as per the CoinMarketCap.
As per the on-chain analyst, Ali Martinez’s activity on the Cardano (ADA) network has surged exponentially with the number of new daily addresses jumping from 167% to 112,500.
Cardano (ADA) awaits for U-turn
On the daily chart, Cardano’s (ADA) price has formed a ‘rectangle formation’ as the price has been trading in a short
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