Cardano [ADA]: Latest rally causes altcoin to trade at pre-FTX collapse level

📆 1/22/2023 5:33 PM
📰 CryptoAmb

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ADA’s price has returned to its pre-FTX collapse level. Coin accumulation has rallied significantly in the last three weeks. According to data from CoinMarketCap, leading layer 1 coin Cardano [ADA] traded at the $0.36 price level during the intraday trading session on 21 January, marking the first time the coin has reached this level since […]

, whose price has risen astronomically since the year started, ADA’s value has also increased by 44%.At its current price, ADA was overbought on the daily chart. Momentum indicators have been on an upward trend since the year began to be pegged at overbought highs at the time of writing.

When an asset’s OBV increases, it suggests that buying pressure is more significant than selling pressure. It also means that more volume is associated with rising prices, indicating that buyers are more aggressive than sellers and that the asset’s price is likely to continue growing.

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