Cardano, one of the top 10 cryptos of the market, is marking another bullish move amidst the positive moving altcoins. With this, we cannot ignore the fact that ADA is spurring just like XRP that has regained its lost position, leaving behind Tether in the global market. Cardano regains its gaining spree against the US Dollar and is ranked on the foremost positions amongst the 1,973 altcoins, marking a fresh YTD high, four cents above the previous high at $0.159, marked in July.
Current AltRank™ for Cardano is 1 out of 1,973
Price $0.146842 +11.52%
3,332 social mentions +37.2%
5,951,978 social engagements +36.2%https://t.co/8c0DeFzFap $ada #cardano @Cardano @CardanoStiftung pic.twitter.com/s9xGK996VC
— LunarCRUSH Social Listening for Cryptocurrencies (@LunarCRUSH) November 22, 2020
Cardano is ranked first amongst the many altcoins and has, therefore, received an additional 3.72% social mentions leading to over 36.2% social engagements on LunarCRUSH.
Cardano Or XRP Or Both?
In the previous year, Cardano was many times compared to XRP, for the matter of fact that which altcoin can gain more return of investment for the investors. But it is just today when Cardano is seen following the momentum of XRP, which led to an amplification in the latter’s position as well.
— JRNY Crypto 🚀 (@JRNYcrypto) November 22, 2020
Both the cryptos possess their qualities, but alongside, the third generation cryptos are making its place amidst the traditional world of finance. It was during the same time when Ethereum 2.0 was going to launch alongside Cardano’s upgrade to proof-of-stake (PoS), wherein the latter happened first, while the former is still streamlined.
This was when CEO Charles Hoskinson focused and emphasized on blockchains working together wherein a systematic and well though-of approach will lead to joint success.
In this regard, Cardano’s platform is enough to lure all the worthy investors for its native crypto that is spiking over the past three days with a steep rise and is definitely close to crossing above $0.160 for the first time in 2 years.
Cardano Price Analysis
Today, ADA price was spotted at $0.153 after a slight pullback from the 2-year high marked at $0.159 in the wee hours of the trading session today. Alongside, it was in the previous quarter when Cardano price was seen hitting a YTD high until the recent breach of the previous one.
With a complete gaining spree, Cardano has strengthened from the YTD low of $0.017 to currently trading near the YTD high at $0.153, reflecting an apparent gain of 300% against the US Dollar. Over the past three days, since the ADA price is seen spurring with a steep rise, the price trend is already breaching the upper 20-day Bollinger Band while retaining complete support at the trough from both 50-day and 200-day daily MAs at $0.105 and $0.101, respectively.
The MACD indicator shows a clear bullish divergence, in this regard, as the price gains a massive impetus over the past three days. The RSI is also lying past the overbought region at 80.17, reflecting overbought security.