Cardano (ADA) Explodes 52% in Critical Indicator: Details

Cardano (ADA) may finally end its consolidation period, as a critical indicator has turned bullish. The ADA price has been trading sideways in the past few weeks, with no prominent signs of gains. The price of ADA is currently trading at $0.3514 after a jump of 1.66%, according to CoinMarketCap.

While the price has surged slightly today, it has remained on the lower levels in the broader outlook. The price is down 18.45% in the last 30 days, showing the control of bears on the ADA market. Cardano appears to be in a make-or-break situation currently. It can either ignite a rally or continue its consolidation period.

However, the current sentiment seems to be shifting, and it appears that bulls are preparing to take control over the market. It is likely that the ADA price is getting ready for a major rebound to reach higher levels. Bulls are showing confidence in the coin, and they appear to be ready to shift the momentum.

Potential ADA price rally

The trading volume of ADA, according to Coinglass, has jumped 52.23% in the last 24 hours. Currently at the $324.47 million level, this rising trading activity further emphasizes the resurgence of bulls on the market. It is a major signal of the changing environment, and it looks like bullish sentiment is returning. As mentioned before, bulls are confident, and they have started to back ADA.

Another key metric of Cardano has turned bullish during this time. The RSI of the coin is currently at the 48.732 level, according to TradingView. This RSI range reveals that the buying activity is intensifying for ADA, which is injecting more optimistic sentiment onto the market. Moreover, this range of RSI typically results in a price rally in the short term.