The post Cardano (ADA) Price Roadmap to $0.600: Should You Buy ADA Now? appeared on BitcoinEthereumNews.com.

1 The ADA crypto has formed a double bottom formation and is eyeing a breakout. 2 Technical indicators and sentiments are favoring the rise. The Cardano (ADA) has finally come out of its slump and defied the downtrend. It may witness a range breakout soon and will skyrocket quickly. The ADA coin replicated a surprising upmove this week, and follow-on buying action was noted. Key indicators have suggested a further rise of over 5% from here. Over the past few months, the Cardano (ADA) price has been trading in a downtrend. However, the ADA price trades in a significant range throughout the month and is eyeing a breakout. Amidst the bearish market cycle, the Cardano (ADA) price halted its correction and decisively sustained the 20-day EMA mark. Meanwhile, Cardano (ADA) initiated the rebound and might outperform ahead. If the bullish wave triggers, ADA price has to cross the prompt hurdle of $0.500 to skyrocket the gains ahead. At press time, Cardano (ADA) trades at $0.0480 with an intraday surge over 1.02%, replicating a fresh bullish wave on the charts.  The pair of ADA/BTC is at 0.00000715 BTC and has a market cap of $17.70 billion. Analysts have suggested a neutral call and are still cautious. Cardano Rebounds with a Surge in Volume: What Does It Mean? This week, a smart recovery in the ADA price action was witnessed, with an uptick of over 35% in trading volume. Notably, the ADA price recovered over 15% and is looking for a breakout. With the rise in demand for the coin and the surge in bullish sentiment, Cardano (ADA) is an ideal buy on dips. Source: Santiment Nonetheless, the sudden rise is fueled by the surge in trading volume. This week, a sharp surge in trading volume of over 90% was noted, reaching…

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Filed under: News - @ May 18, 2024 6:18 pm