While the past week hasn\u2019t been too successful for Bitcoin (BTC), Ethereum (ETH), and other well-known cryptocurrencies, Cardano\u2019s ADA defied the ongoing trend by posting a double-digit price increase.<\/p>\n
Market observers have shifted their focus toward it, with some projecting that the rally might be just starting.<\/p>\n
ADA has been among the worst-affected digital assets by the prolonged bear market, and in June its price briefly collapsed under $0.14: the lowest level since 2020. Last weekend, though, brought<\/a> a sudden and long-awaited resurgence, potentially propelled by the return of the whales who purchased more than 240 million tokens in less than a week.<\/p>\n The uptrend continued, and as of press time, Cardano\u2019s native token trades at around $0.193, representing a 20% increase on a seven-day scale. X user JAVON MARKS recently found similarities between the asset\u2019s latest performance and that of 2020-2021, which was followed by a price explosion, which is why they set<\/a> a target of $2.90.<\/p>\n Sssebi and CW also weighed in. The former noted<\/a> that ADA is close to crossing the 20-week Moving Average after being heavily oversold, reminding that historically this type of setup has triggered a \u201cbig pump.\u201d The latter noticed<\/a> that ADA is approaching a major resistance line at $0.2305, which, if broken successfully, could mark the end of its long downtrend.<\/p>\n Earlier this week, the analytics platform Santiment revealed<\/a> that ADA\u2019s rally comes at a moment when the number of non-empty Cardano wallets is actually declining. According to the firm, this suggests the price has recovered while many \u201csidelined\u201d holders have yet to re-enter the ecosystem.<\/p>\n \u201cRising price with falling holders can mean stronger buyers are absorbing supply, and retail confidence has not fully followed the move yet,\u201d it added.<\/p>\n In contrast, just a few hours ago Martinez disclosed<\/a> that trader interest in ADA has increased substantially. He said futures volume has surged by 380% from $150 million to $650 million in a single week, a jump that typically signals a sharp rise in market participation and that could make the asset more volatile in the short term.<\/p>\n The post Cardano (ADA) Grabs Traders\u2019 Attention After a 20% Weekly Increase: Further Pump Incoming?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" While the past week hasn\u2019t been too successful for Bitcoin (BTC), Ethereum (ETH), and other well-known cryptocurrencies, Cardano\u2019s ADA defied the ongoing trend by posting a double-digit price increase. Market observers have shifted their focus toward it, with some projecting that the rally might be just starting. The Next Potential Targets ADA has been among […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-209245","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/209245"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=209245"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/209245\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=209245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=209245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=209245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Traders are Back<\/h2>\n