Cardano (ADA) is yet to explore its bullish potential to the fullest. The token has adopted a rather lethargic stance this season, despite encountering robust waves of ecosystem developments.
Per CoinMarketcap, ADA has been trading at $0.46 at press time, up 0.73% in the last 24 hours.
Also Read: Cardano: ADA To Pump At $10, Analyst Predicts
Cardano Retests: What’s Happening
Per Sssebi, a notable crypto analyst on X, Cardano is currently retesting the upper trendline of a triangle. Retesting of a token generally refers to a phenomenon when the asset comes back to test its significant support or resistance price spot. It does so to check whether it can breach it to break into bullish momentum.
Per the expert, ADA’s RSI indicators are also portraying a bullish divergence, signaling a bullish onset of the token.
The analyst later shared that if ADA manages to close and breach the $0.46 mark, it can soon show some significant price action.
Also Read: Cardano Weekend Price Prediction: How High Can ADA Go?
“$ADA is now retesting the upper trendline of the triangle, which BTC already broke. Bullish divergence on the RSI is also visible. If the ADA starts closing above 0.46, we could see a rally soon.”
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