Cardano Price Surge: ADA Nears $1
Cardano (ADA) has recently hit an eight-month high, nearing the $1 mark, driven by growing trading volumes of $52.26 billion. Technical indicators suggest bullish momentum, with ADA breaking free from a downward channel. The balance of power (BoP) indicator also shows a balanced market, hinting at exciting moves ahead.
Yet, not all signs are rosy. The Relative Strength Index (RSI) indicates overbought conditions, signaling a potential correction in the short term. Some investors remain skeptical of its ability to sustain momentum, fearing external market factors could stall its progress.