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Cardano (ADA) Technical Analysis: Re-enters Top 10, But Can it Hold on to $0.06?

© Reuters. Cardano (ADA) Technical Analysis: Re-enters Top 10, But Can it Hold on to $0.06?

has recently re-entered back into the top 10 cryptocurrencies by market capital, after the project announced its new Cardano 1.5 release on March 20.

The announcement, which notably included a new 0.13.0 Daedalus wallet upgrade and the integration of a new intermediary Proof-of-Stake mechanism, ‘Ouroboros BFT’, received a highly positive response from the Cardano community.

Over the weekend, the asset managed to bank an impressive 22% gain and break over the key psychological $0.06 price point for the first time in 4 months. This ramped up bullish momentum has now placed Cardano (ADA) ahead of Tron (TRX), but only by a narrow $19 Million.

Since reaching its new 4 month high on Saturday, ADA has already retracted by nearly 8% as profit takers and panic sellers put an end to the explosive opening bull run.

With the IOHK summit scheduled to take place next month and rumours spreading that Coinbase Pro might be adding Cardano (ADA) soon,…

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