It would appear the vast majority of crypto, token, and digital asset markets have turned bullish overnight. Why that is happening exactly, will remain a big mystery for a little while longer. The Cardano price is going through a very promising run so far, as its value is looking to approach $0.05 again at some point.
Cardano Price Momentum Turns Very Bullish
In the cryptocurrency world, few projects are effectively making headlines virtually every other day. One of the projects not making much buzz is Cardano, although that doesn’t have to be a negative thing whatsoever. In fact, the relative silence surrounding Cardano means its price can move up quickly with little trading volume.
Over the past few hours, all major crypto markets have turned super bullish. The Cardano price has risen by over 4.5% in USD value, bringing the price to $0.04293. In ADA/BTC, there is less of an improvement. A 1.7% gain is not bad by any means, as one ADA is valued at 1,147 BTC. Both trends are made possible through $22.34m in trades, which seems to indicate further upward momentum may materialize at some point in the future.
On social media, ADA is getting some attention following these unexpected gains. Crypto Wunderbear, while clearly a Cardano maximalist, has confirmed “it has begun” whether this means the breakout is just beginning or if the reversal is already taking shape, remains to be determined. After all, Cardano has shown a few green candles in a row, which hardly ever goes by without any correction.
— Hermes Stakepool | Ticker: HRMS (@Wiiinnie) February 18, 2019
While the current Cardano momentum can be rather lucrative, it is not the only currency noting strong gains on this Monday morning. In fact, it seems the entire top 15 is in the green, which can mean one of two things. Either this is a legitimate bull trend, or there will be some consolidation before Bitcoin pumps massively and destroys altcoin momentum in the process. For now, both options are still on the table.
— SimpleHumanTry.nft (@SimpleHumanTry) February 18, 2019
Some cryptocurrency users are intent on maintaining their regular morning routine regardless of what happens to the likes of Cardano. As Cliff shows, there is nothing better and crypto and coffee in the morning. The image also depicts a Ledger Nano S, which is pretty interesting. Flashing those devices around in the open may not necessarily be the best course of action, though.
— Cliff (@EternalSupreme) February 17, 2019
All signs seem to indicate the cryptocurrency markets are simply reclaiming some of their lost value in rather quick succession. While that was to be expected at some point, sustaining any uptrend has been very problematic in the past twelve months. Only time will tell if this time can be different in a positive manner. Even so, Cardano holders will be quite pleased with this new development, as it has been long overdue.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.