Why is Cardano (ADA) Price Up?

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ADA, the native token of Cardano, is on a relief rally amid the excitement over the first Bitcoin ETF listings in the US.

Key Drivers:

1️⃣ ADA breaks above crucial support at $0.52.

2️⃣ Boost follows Bitcoin ETF approval.

3️⃣ Crypto Yapper eyes a retest of overhead resistance.

4️⃣ Sebastian anticipates a bullish higher high targeting $1.

5️⃣ ADA maintains a core uptrend with solid support at $0.46, per altFINS.

📈 TradingView 📈

Cardano, closely tied to Bitcoin, benefits from increased enthusiasm in the digital asset space. Upside momentum pushes ADA towards $0.65; a break could negate recent bearish trends, opening doors to the $1 milestone.

Despite 2023's volatility, ADA capitalizes on this week's catalyst, reclaiming its position as a top altcoin after Ethereum. Positive momentum sustenance remains challenging, but ADA's strong technical posture indicates a potential rotation towards $0.65.

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