Cardano Price Rebounds Strongly After Weekend Dip

As was to be expected, most of the negative momentum haunting the cryptocurrency markets has quieted down once again. Weekends are usually nefarious for bearish pressure, whereas Mondays will confirm the trend or make other things happen. Today, it seems the latter option is in place. As the Cardano price shows signs of life again, traders show some degree of excitement where this altcoin is concerned.

Cardano Price Goes Through a Nice Rebound

After a bit of a rough Sunday, it would appear as if the cryptocurrency markets are bouncing back rather strongly. This is in line with what most traders and enthusiasts had expected, although it is still good to see it come true. With Bitcoin leading the charge, there is a genuine chance the alternative markets will recover most of their recent losses in quick succession. Cardano is already on track to do just that, but there’s still a ways to go.

More specifically, the Cardano price has regained 4.6% in USD value as it rose back to $0.076211. There is also a strong bounce in ADA/BTC following a 3.48% improvement. With one ADA now valued at 1,435 Satoshi, everything seems to be back to normal, for the most part. The next objective is to improve upon the trading volume, as just $80m worth of trades isn’t exactly convincing under these circumstances.

On social media, there is plenty of Cardano-related activity to take note of. BTCJeanRalphio shares his latest trading strategy which seems to make a lot of good money in the long run. For Cardano, there were some wild swings recently, with a 57% gain one week and a 19% drop shortly after. Very interesting information for aspiring traders looking to make some good money. While trading advice should always be taken with a grain of salt, it is relevant information regardless.

When it comes to the Cardano charts themselves, the current momentum seems to spark plenty of excitement. Although the recent retrace has triggered some concerns regarding the long-term trend, it seems this bounce is keeping most people rather happy. It all comes down to whether or not this trend will remain in place for very long, as that remains the more difficult question to answer.

Related Post

A slightly different opinion is shared by CardanoBuzz, although the opinion is still more than valid. This user claims the recent correction was entirely to be expected, primarily because of the recent bull run which preceded it. With the support still sitting tight at $0.072, it seems likely to assume this new uptrend may have some merit to it in the end. While there is a reason for cautious optimism, things can still change on a dime.

All things considered, the current Cardano momentum seems to be legitimate. Although no major gains might materialize in the near future, the current uptrend is more than sufficient to keep things going for a little while. Once the trading volume picks up a bit, there may be even further momentum in either direction. As long as Bitcoin remains in the green, there won’t be any real problems for any of the alternative markets.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

TMS Network (TMSN): The Unstoppable Wave Overwhelming Arbitrum (ARB) And XRP (XRP) in 2023

Crypto investment has seen a surge in 2023 as new players overwhelm renowned players with…

3 hours ago

With Sparklo (SPRK) To Higher ROI Than XRP (XRP) and Terra Classic (LUNC)

The broader cryptocurrency market has been sluggish for the last few days. Among the top…

5 hours ago

Leading Crypto Activist Explains What Crypto Communities With Grow The fastest After SEC Targets Coinbase and Binance

The recent developments in the cryptocurrency world have undoubtedly sent ripples throughout the entire ecosystem.…

5 hours ago

Kucoin (KCS) and Polkadot (DOT) Enters The Bear Market, While Sparklo (SPRK) Gains More Investors

To stay afloat and maintain its lead over other popular coins, Sparklo has introduced a…

1 day ago

NiFTiesLab Corp Breaks New Ground with HSAC Token: Championing the Attention Economy on Bitcoin’s BRC20 Protocol Amidst Regulatory Uncertainty

Road Town, British Virgin Islands – Hold onto your hats! NiFTiesLab Corp is rewriting the…

1 day ago

TMS Network (TMSN) Revealed as Shocking Crypto Challenging Arbitrum (ARB) and Polkadot (DOT)

The world of crypto sees its share of innovations, with newer platforms and tokens arising…

1 day ago