Cardano's ADA token gained 3% over the last 24 hours after Nasdaq expanded its crypto index to include the token, joining XRP, Solana, and Stellar among others. This move could enhance ADA's visibility to traditional investors. According to CoinDesk Research, ADA experienced notable volatility, trading within an 8.8% range between $0.66 and $0.72. Currently, ADA is priced around $0.6951. Trading activity for ADA has surged by 68% in the same period, indicating heightened interest despite a generally uncertain market environment. Analysts highlight that the $0.70 mark is now viewed as a key psychological support zone and could influence ADA's short-term price direction following its earlier gains. Following a price movement from $0.67 to $0.72, ADA faced a slight pullback, which may reflect profit-taking.
Cardano's ADA Sees 3% Increase After Inclusion in Nasdaq's Crypto Index
Cardano's ADA token rose by 3% following its addition to Nasdaq's crypto benchmark index, amidst a volatile trading atmosphere.
Jamie Bennett
Crypto Analyst
5 min read
47,657
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
ADA
ADA
BUY
Entry Price
$0.6951
Confidence
80%
Stop Loss
$0.66
Take Profit
$0.72 - $0.75
With Cardano's 3% gain and inclusion in the Nasdaq Crypto Index, market sentiment is bullish, suggesting a strong potential for further gains.
