Cardano (ADA) has skyrocketed today. ADA has surged beyond $0.49 after the current rally. Thus, Cardano addresses owning 2.71 billion tokens have broken even despite losing money owing to the continued losses.
According to CMC, ADA is trading at $0.49, down 0.40% in 24 hours. On-chain data from Into The Block demonstrate that Cardano addresses that acquired ADA at $0.48 have broken even. This means these investments will pay off if the market rises. Price will likely maintain bullish momentum if it holds over $0.46.
With the ADA/BTC nearing its low, analysts think Cardano will bounce. Famous crypto specialist Sebastian recently evaluated the market and found some favorable signs for Cardano (ADA) compared to Bitcoin. Sebastian thinks the ADA/BTC chart has bottomed, predicting a positive reversal.
The pair hit 0.00000680 on Thursday, May 16, according to TradingView. A comeback occurred for ADA/BTC. Finally, it rose 0.28% to 0.00000723 after 24 hours.
The analyst also noted hopeful divergence. This technical indication suggests Cardano’s price will climb as the downtrend eases.
