Investment

A new wave of interest is moving Cardano almost to historic highs


Cardano (ADA) reached its all-time high on March 18 after renewed retail interest in the asset. Finally, on Thursday, it reached a price of 1.47 USD, according to TradingView data from the Kraken stock exchange – just above the highest historical price of 1.48 USD set on February 27.

Cardano’s 1-hour chart shows that the asset has reached higher lows since its correction, leading to an upward trend line. Price currently appears to have overturned the 50-year moving average, or MA, to support at least at the time of publication; its price is currently around $ 1.32. In its recent downward move, the ADA has not fallen far enough to hit its MA for 200 seasons.

Source: TradingView

In the ADA hourly chart, after two Thursday’s attempts to reach a record high, the asset fell by almost 20% to $ 1.18. ADA’s decline occurred at the same time as a similar, albeit remarkably smaller, correction in the price of bitcoin.

The increase in the ADA appears to have followed on March 16 notification from the US stock exchange Coinbase, adding ADA to its Coinbase Pro platform. “Trading will start on Thursday, March 18 at 9:00 Pacific Time (PT), provided that liquidity conditions are met,” the blog post said. The ADA appears to be trading on the stock exchange at the time of publication.

Blog post today revealed that Coinbase has also added an asset to its application and platform, Coinbase.com.

The ADA is one of the largest cryptocurrencies in terms of market capitalization



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