Cardano (ADA) has been seeing positive price action recently, with investors showing increased interest in mega cap altcoins following the Bitcoin (BTC) halving. This week, Solana (SOL) and Ethereum (ETH) have managed to reclaim key resistance levels at $150 and $3,200 respectively. Now, ADA price seems to be on the cusp of a similar breakout trend.
Currently trading at $0.50, Cardano has seen a 29.9% rebound since the dip on April 13. Looking at the orders placed on major exchanges, it appears that ADA may soon reach the $0.65 milestone.
The Aggregate Exchange Order Books chart from IntoTheBlock shows the level of active buy/sell orders for Cardano across 10 well-known crypto exchanges, such as Binance and Coinbase. The demand for ADA has exceeded sell orders by 30 million ADA, indicating a potential upward movement in price.
Overall, the market sentiment for Cardano seems positive, with investors showing interest in the cryptocurrency. Keep an eye on ADA as it continues to show potential for growth in the near future.