Cardano’s ADA Rises 3% After Addition to Nasdaq Crypto Index
Cardano's native token ADA rose 3% in the last 24 hours following Nasdaq's expansion of its crypto benchmark index from five to nine assets, including ADA, XRP, Solana, and XLM.
Key points:
- ADA showed volatility with an 8.8% trading range between $0.66 and $0.72, currently at $0.6951.
- Trading volumes increased by 68%, indicating active market participation.
- The $0.70 level is viewed as a critical psychological support zone influencing ADA's short-term direction.
- The broader CoinDesk 20 Index is up around 4% in the past 24 hours.
Technical Analysis
- ADA's price established an uptrend from $0.67 to $0.72, supported by strong volume at $0.68.
- A pullback from $0.72 to $0.69 suggests profit-taking after recent gains.