The cryptocurrency market has been having trouble turning bullish again. Buyers have tried to push higher and resume the bullish trend again, but they have failed, in most cases being rejected by moving averages on the daily chart, as we have highlighted several cryptocurrencies today.
Cardano has also finding it difficult to resume the bullish trend properly, but it keeps making higher highs and remains above moving averages on the daily chart. This is another bullish sign for Cardano.
Cardano Live Chart
The highs from the first four months at around $1.45 seem to have turned into support now for ADA/USD. In the previous two days we have seen two bullish hammer candlesticks, as the 20 SMA (gray) and the 100 SMA (green) provided support on the daily chart. Today we are seeing a slight pullback in the crypto market, but cardano still seems bullish, as it holds above the moving averages.