ADA is Turning Bullish, Fast!

After the wider crypto market entered correction mode on Monday, Cardano’s ADA is set to rise once more. The recent price crash of First Republic Bank (FRC) shares has not only boosted the value of Bitcoin (BTC), but also that of other cryptocurrencies, including ADA, albeit a little late to the positive party.

Looking at the four-hour price chart, it can be noticed that ADA has already broken the bearish trend and has gone bullish since the start of 2023. ADA has found its bottom near $0.24 and is now climbing to new peaks and settling for higher troughs in each cycle.

Currently, the price of ADA of $0.41 is near the highs of May 2018, but if its trajectory continues to point upwards, it may be only a matter a couple months before ADA surpasses the resistance zone between the $0.60 and $0.70 range.

Caradno’s fundamentals grows the case for crypto traders to go long on ADA. The Snowmantastic project announced on Twitter that they are transitioning their NFT project from the Ethereum network to the Cardano network, which is likely to attract more investors towards the ADA token.