Cardano Price Prediction: As Tron Flips ADA To Become The 10th Biggest Crypto, Traders Rush To Buy This DOGE 2.0 Before It’s Too Late
The Cardano price surged 3% in the last 24 hours to trade at $0.3437 as of 04:05 a.m. EST on trading volume that jumped 35% to $252 million.
This came as Tron (TRX) surpassed Cardano’s ADA to become the 10th biggest crypto by market capitalization, according to CoinMarketCap .
TRX currently has a market cap of $12.04 billion, while Cardano’s market cap sits at $11.89 billion.
Cardano Price To Continue Surging – Bulls Aim For A Breakout
The Cardano price has been in a consolidation phase in the last two weeks, as the bulls continue to struggle to breach the $0.3460 resistance, according to data from GeckoTerminal .
ADA has now surpassed the 50-day Simple Moving Average (SMA), which supports the current ADA uptrend in the short term. If the uptrend continues, the price of Cardano could surge over the sideways pattern, to the 200-day SMA at $0.372.
Furthermore, the Relative Strength Index (RSI) is on a rebound from the 50-midline level, as it closes in on the 70-overbought region, currently at 61. This is an indication that the asset is under intense buying pressure.
The bullish prospects are supported by the Moving Average Convergence Divergence (MACD), as it crosses above the neutral line.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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