Cardano

Today, Cardano rebounded above $1.45 support but the rally was stalled at a $1.55 high. Surprisingly, the altcoin dropped sharply to $1.37 low. The bulls buy the dips as the ADA rallies to a $1.50 high.

On April 7, 2021, Cardano (ADA) price rallied to a high $1.35 and subsequently resumed downward. Before that the altcoin has been fluctuating between $1.15 and $1.25.

Cardano's (ADA) price fell sharply as it reached the $1.20 low. Today, the bulls have bought the dips as the market resumes a fresh uptrend.

Cardano (ADA) coin has sustained its current rallies as it reaches the high of $1.48. On February 28, ADA is retracing after the price reached the overbought region of the market.

August has not been bullish for some of the major cryptocurrencies that are among the top 10 tokens by market cap (MC). Let’s review 5 biggest losers of August 2020 in the cryptocurrency market.

Cardano is one of the most performing altcoins which has been consistent in its upward move. The coin has earlier reached a high of $0.09 but was resisted because it reached the overbought region.

The altcoins are trading in their respective bull markets. Nonetheless, as the coins reached the overbought regions, there was a change in the trend. The cryptos resumed trading in a sideways trend. A rebound or breakout is possible at the overbought regions which will propel the coins to resume the uptrend.

The cryptocurrencies are all in bear markets. The altcoins have reached the oversold regions. Consequently, the emergence of bulls contributed to the upward movement of the coins.

In the week under review, DASH, Dogecoin, Cardano, and TRON were previously making positive moves. In recent times, all the coins have dropped in value as the coins hit the overbought region. Stellar also is in a downward movement as it reaches the overbought condition.