- ADA/USD went up from $0.087 to $0.093 this Wednesday.
- With a marketcap of $2,519,704,937, Cardano managed to overtake Stellar and take the 8th place on CoinMarketCap.
ADA/USD bulls continue their domination of the market as the price went up from $0.087 to $0.098 this Wednesday. After jostling with Tron (TRX) over the last two months for the tenth spot on the CoinMarketCap rankings, Cardano has risen through the ranks and overtaken Tether and Stellar to take the eighth spot on the list.
ADA/USD 4-hour Chart
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The market had a bullish opening this Wednesday and went up from $0.086 to $0.092. After that, the bears checked the market and price consolidated for the next two sessions, forming a flag formation. Following that, the market shot up again and reached $0.0988 before the bears took over and brought the price down to $0.093.
The market is currently trading above the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves. The last session brought the market back inside the jaws of the 20-day Bollinger band. The relative strength index (RSI) is still inside the overbought territory even though the curve looks like it is about to leave that zone. The MACD indicator shows that the overall sentiment is still bullish, however, the last bearish session has comparatively decreased the bullish intensity of the momentum.
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