Cardano’s ADA token continues to navigate the current market downturn, with recent developments giving investors hope that it could see a pump in the long term.
But how high can ADA really go?
ADA Price Action
ADA currently trades at $0.3513, marking an uptrend of 0.46% in the past 24 hours. ADA has outperformed the broader market, which is down by 1% in the same period.
However, ADA’s price has failed to break through any of its top moving average (MA) indicators despite the 24-hour increase. It trails every major metric, ranging from the 10-day MA of $0.3522 to the 200-day MA of $0.3530.
ADA’s moving average convergence divergence (MACD) is negative. However, the crypto asset’s reactive strength index (RSI) of 40.48 shows that it is approaching the oversold region, making it perfect for long-term investors.
Vasil Hard Fork Gives Hope for Long-Term Gains
ADA has some impressive fundamentals that can support long-term growth.
Recently, the Cardano blockchain successfully implemented...
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