- Cardano addresses holding a total of 2.71 billion tokens have now achieved break even.
- At the time of writing, ADA is trading at $0.48, down 0.38% in the last 24 hours.
Cardano (ADA), has seen an incredible surge in value today. The ADA price has risen over $0.49 level due to the most recent spike. Therefore, after initially losing money due to the ongoing falls, Cardano addresses holding a total of 2.71 billion tokens have now achieved break even.
At the time of writing, ADA is trading at $0.48, down 0.38% in the last 24 hours as per data from CMC. Into The Block’s on-chain statistics show that Cardano addresses that bought ADA at $0.47 on average have finally managed break even. Consequently, these investments will provide a return if the market continues to increase. Moreover, if the price manages to hold above $0.46 level, then it will likely continue the positive momentum.
ADA/BTC Bottomed Out?
In addition, with the ADA/BTC just reaching rock bottom, experts believe Cardano is preparing for a rebound. Notable crypto expert Sebastian recently analyzed the market and pointed out several positive indicators for Cardano (ADA) relative to Bitcoin (BTC). The ADA/BTC chart seems to have bottomed out, suggesting a possible bullish turnaround, according to Sebastian.
As per data from TradingView on Thursday, May 16, the pair touched a low of 0.00000680. A subsequent revival was seen by the ADA/BTC pair. To top it all off, it increased 0.28% to 0.00000723 in only 24 hours. In addition, the expert highlighted the existence of divergence that is optimistic. This technical signal is pointing to a possible easing of the downtrend and an impending rise in the price of Cardano.
A key resistance level, established above 0.0000079, was highlighted by the analyst. For investors seeking to maximize gains, ADA is a strong contender if it can break above this barrier, according to Sebastian. This might ignite a prolonged surge.
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