đ„ AMBCrypto Analytics: $ADA Long Way to Go
Coupled with an uptick in volume, there was growth seen in terms of price movement as well. In the last 24 hours, the price of ADA surged by 4.43%Â and was trading at $0.4498 at the time of writing.
Despite the recent price surge, the overall situation for Cardano remained glib.
Since the 15th of March, ADAâs price started on its downward trajectory, while showcasing multiple lower lows and lower highs along the way.
This was indicative of a bearish trend which ADA was unable to reverse over the last few months.
To reverse this trend, ADA may have to test the $0.5761 level and surpass it. However, at the time of writing, ADA was nowhere near this level.
Even though ADA had a long way to go, the indicators for ADA painted a positive picture.
The CMF (Chaikin Money Flow) for ADA had surged to 0.6 revealing that the money flowing into ADA had surged.
Additionally, the RSI (Relative Strength Index) for ADA had also grown, indicating a surge in bullish momentum for the token.
Even though these factors can give some optimism to ADA holders, it is important to take into consideration that a massive uptick in price would be needed before a trend reversal occurs.
