The entire crypto industry was trying to make a comeback after its recent crash. While the over crypto market cap was on the road to recovery, ADA was seen aiding this journey. The altcoin pushed Polakdot [DOT] down to the sixth position as ADA’s market cap surged to a high of $33.73 billion.
ADA has been trying hard to move beyond $1. The latest crypto rally made it possible for this altcoin to do so. At the time of writing, ADA was trading for a high of $1.12 with a 9.13% surge in the last 24-hours. Cardano seemed to be the only asset in the top ten category that was incurring profits of this margin. Over the week, ADA had bagged gains of over 16%.
Cardano [ADA] one-hour price chart
The Bollinger Bands indicator used in the one-hour price chart of ADA had been converging throughout yesterday. However, the bands looked like they were going for a separation.
The Awesome Oscillator indicator was forming green closing bars which insinuated a bullish momentum in the ADA market.
The Relative Strength Index [RSI] indicator was seen heading towards the overbought zone. The RSI marker was up by the buyers’ realm, during the time of writing.
Cardano [ADA] one-day price chart
A bullish predilection was unimpaired in the ADA one-day price chart. The altcoin seemed to be retaining the bulls in its market while trying to hit an all-time high of $1.33. The Parabolic SAR indicator was eliminating the chances of a downward breakout by laying out a line of support below the candlesticks. The Chaikin Money Flow [CMF] index was over zero, all the way at 0.24 median which further indicated that the bulls were in the ADA market.
The Money Flow Index was still exhibiting a buyers’ sentiment as the MFI marker was above 50 median.
While the ADA community prepares for a journey on to its all-time high, a network update is also on its way. The Input Output HK [IOHK] took to Twitter to announce the Cardano protocol update, Mary, scheduled to take place at 21:44:51 UTC on 1 March 2021. The tweet further read,
WE'RE ON!! We can today confirm that the ‘Mary’ #Cardano protocol update is now fully confirmed for March 1st.
Another key milestone in the #Goguen rollout, the update introduces native tokens & multi-asset support, bringing exciting new use cases for #Cardano 1/3 pic.twitter.com/FFK0cGNbmD
— Input Output (@InputOutputHK) February 24, 2021