Altcoins News
By Sydney TheCMO
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Cardano (ADA) received a lot of attention after it turned out to be the only altcoin in the top 10 on Coinmarketcap that was bullish when the rest were in free-fall.
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Cardano has a year-to-date low of around $0.18 and has steadily gained during this year’s bull market. It peaked at $1.
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Why Cardano remained bullish in a bearish session
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Roughly $300 billion was wiped out of the cryptocurrency market on Thursday. A tweet by Tesla CEO, Elon Musk triggered the massive crypto selloff.
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The Tesla CEO plans to shift his attention towards cryptocurrencies that have a significantly lower environmental cost than Bitcoin.
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Although Cardano’s cheaper and more sustainable mining may have contributed to its ability to avoid the bears, there is another potential reason that it reached a new high on…
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ADA’s current price of $1.87 crossed back above the 7-day moving average during Thursday’s trading session, thus confirming its strong bullish momentum.
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The ongoing bullish rally on ADA appears to have started from the $0.92 support level on April 23.
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As far as the potential upside is concerned, the stochastic RSI indicator is currently near the midpoint at 55.
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Fortunately, the latest news, especially about ADA and XRP having mining properties that are more environmentally friendly and the upcoming Cardano hard fork, are enough reasons…
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Another major benefit to ADA is that its performance on Thursday made it more visible. Many traders will likely put it on their crypto watchlist just because it is one of the…
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