The Cardano price surged 3% in the last 24 hours to trade at $0.3437 as of 04:05 a.m. EST on trading volume that jumped 35% to $252 million.
This came as Tron (TRX) surpassed Cardano’s ADA to become the 10th biggest crypto by market capitalization, according to CoinMarketCap .
TRX currently has a market cap of $12.04 billion, while Cardano’s market cap sits at $11.89 billion.
Cardano Price To Continue Surging – Bulls Aim For A Breakout
The Cardano price has been in a consolidation phase in the last two weeks, as the bulls continue to struggle to breach the $0.3460 resistance, according to data from GeckoTerminal .
ADA has now surpassed the 50-day Simple Moving Average (SMA), which supports the current ADA uptrend in the short term. If the uptrend continues, the price of Cardano could surge over the sideways pattern, to the 200-day SMA at $0.372.
Furthermore, the Relative Strength Index (RSI) is on a rebound from the 50-midline level, as it closes in on the 70-overbought region, currently at 61. This is an indication that the asset is under intense buying pressure.
The bullish prospects are supported by the Moving Average Convergence Divergence (MACD), as it crosses above the neutral line.
Cardano Price Chart Analysis Source: GeckoTerminal.com
According to the ADA/USD chart analysis on the 4-hour chart, ADA is currently on a bullish trend, as the bulls aim to breach the upper boundary of the sideways pattern. If the trend continues, the price of Cardano could soar, with the bulls targeting $0.40.
However, if the bears take control of the token at this level, ADA could plunge to the $0.30 support.
Meanwhile, investors are piling into the new meme token PlayDoge (PLAY) , which has already amassed over $6.1 million, with just days left until its presale ends.
An analyst from 99Bitcoins, a popular YouTube channel with over 706K subscribers, predicts that PLAY could potentially surge 10X after its launch.
PlayDoge Garners Over $6.1 Million – Last Chance To Buy
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To join the presale, buy $PLAY from the official website here using BNB, USDT, or a bank card.
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