Saad Ullah
Cardano (ADA) appears to be staging a quiet comeback. After months of steady decline, new market data suggests that ADA’s dominance in the crypto market is rebounding. Traders are watching closely as key technical indicators flash early signs of a trend reversal.
ADA Dominance Climbs to 0.64% With Bullish Momentum Building
On the daily chart, ADA dominance has reached 0.64%, showing the first significant upward move after a sustained downtrend. The price action is forming a rounded bottom pattern, a classic bullish signal that suggests selling pressure may be easing.
Supporting the potential shift is the RSI (Relative Strength Index), which has bounced from oversold territory at 33.13, signaling increasing buying interest. The 50-day moving average, currently at 0.69%, remains a key resistance level to watch.
Altcoin Focus Grows as Bitcoin Dominance Drops
Cardano's rise in market share comes as Bitcoin dominance continues to slide, opening the door for altcoins to recover lost ground. Historically, declining BTC dominance often precedes altcoin rallies, positioning ADA as a potential leader in the next cycle.
If ADA dominance continues to rise and crosses above the 0.69% moving average, it could confirm a broader bullish breakout.
Saad Ullah
