Santiment has named Cardano, along with AAVE and CRV, as one of the altcoins that might profit from brief profit windows, particularly during Bitcoin’s most recent run above $28,000. According to the analytics company, these coins may eventually become independent of larger market patterns, providing traders with a profitable chance.
Cardano is now trading at $0.26 and is close to the 50 EMA resistance level as per the most recent data. A breach of this barrier may indicate the start of a bullish trend, but other signs point to caution. In addition to the Relative Strength Index (RSI) being on the verge of overbought territory, trading volumes have been rather low. These variables suggest that bulls may be losing traction, which makes it challenging for ADA to maintain an upward trajectory.
Despite these difficulties, Cardano has a small window of opportunity right now given the state of the market. Recent growth in bitcoin has caused market volatility that astute traders may be able to take advantage of.
The currency has demonstrated resiliency by keeping its position near the 50 EMA even if the climbing trend for ADA is not progressing too much. A successful break above this resistance level will probably draw additional buyers into the market, making this a critical time for Cardano.
However, traders ought to proceed with prudence. The asset may be vulnerable to a pullback, according to the close to overbought RSI levels. Any gains made in the short term might be undone if ADA is unable to break above the 50 EMA and return to a bearish zone.
Cardano offers a variety of risks and possibilities. While Santiment’s research indicates that there may be a short-term profit window and decoupling, other signs like low trading volumes and a nearly overbought RSI hint to a crucial turning moment for the asset.
