Cardano (ADA) Surges Past Key Moving Average
- Cardano (ADA) has climbed above its 50-day moving average, focusing on the $0.94 resistance level.
- Coinbase’s ADA holdings increased by 462% to reach a total of 9.56 million ADA.
- The supply of Coinbase Wrapped ADA (cbADA) grew from an initial launch of 1.7 million to a current total of 9.53 million.
- Coinbase’s XRP reserves have decreased by approximately 98%, highlighting a shift in liquidity preference towards wrapped Cardano products.
Cardano’s technical indicators suggest potential for further gains, supported by its recent move above the market average and strong institutional interest shown by Coinbase’s significant reserve increase.
With Cardano reclaiming critical support levels and institutional interest rising, traders are eyeing a possible rally towards the $1 mark if momentum continues to build. (Source)
