Cardano (ADA) is one of the cryptocurrencies heavily affected by the bear market. The Cardano blockchain is a system that allows other crypto developers to create new innovative apps called DeFi applications. The native token of this blockchain is called ADA, and it is one of the biggest cryptocurrencies.
Judging from the recent data, the price chart shows the ongoing battle between the bears and bulls in the market. The new ADA price lows show how much losses the token has suffered in the bear market, but it has a consistent pattern. Once ADA experiences bearish trends, it bounces back immediately and recovers the losses. The token has a new low of $0.25 in the monthly chart. But within the same monthly chart, its biggest price was $0.37.
Back to the latest development, Cardano (ADA) has been having many issues with its price increase. Within the past day, the token has seen its price fluctuate, almost reaching levels crypto analysts found scary. Within 24 hours, the token saw a new low of $0.30, higher than the lowest price recorded in a month. While bears and bulls continue to fight, the token has made some progress within the past week.
Cardano (ADA) Makes Huge Progress
The ADA price chart in the past 24 hours has been very great. For a bloody crypto market, the cryptocurrency managed to carve out a bullish trend. Looking at the charts shows huge progress.
At the time of writing, ADA is currently at approximately $0.32 range and has recorded an increase of more than 3%. ADA is doing more than well on the weekly charts than many other cryptocurrencies. It has increased by a whopping 8.80% within the past seven days. It gets even better when you dive deep into the chart.
The ADA chart within the past seven days shows no sign of red. Everything has all been green despite the massive fluctuations in the market. Reaching the price level of approximately $0.29 is the lowest in a week. This is quite a huge milestone since the cryptocurrency reached a new high of $0.36 within the past seven days. However, the price increase isn’t the only thing ADA has done so well. The market cap has also increased.
Cardano’s Market Cap Battle
Right now, it is the survival of the fittest in the crypto market. Every cryptocurrency is trying to make a recovery, and so is Cardano. Recently, Solana displaced Cardano to take the 7th position in market cap rankings.
However, ADA has taken this position back from Solana after making some massive increases in market cap. Right now, Cardano’s market cap stands at more than $11 billion.
In conclusion, ADA has had many ups and downs within the past months, and it is making some progress recently. The chart reports from the past weeks look very good for the token. Does this mean ADA is back? Well, that is left for time to tell.
Featured image from Pixabay.