The post Cardano Deviates Before Testing Resistance-Where is ADA Price Heading Next? appeared first on Coinpedia Fintech News
The Cardano (ADA) price is navigating a consolidation phase as it trades around $0.662 after bouncing between $0.654 and $0.678 over the past 24 hours. The crypto has pulled back nearly 10% from its April highs, yet is showing early signs of a potential reversal supported by other external factors. The ADA price broke down from the ascending trend line last week, which triggered a short-term dip. Therefore, it is important for the third-generation token to sustain above $0.65 throughout the week, or else the bears could reclaim their dominance for a short while.
In an interesting update, the Nasdaq has filed SEC Form 8-K, which confirms its proposal of expanding crypto benchmark. It has increased from 5 to 9 crypto assets by including XRP, Solana, Stellar and Cardano. This is considered a big win for crypto exposure as more altcoins are joining Na
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