Investors in the cryptocurrency market are bullish after the collapse of key banks in the US. Cardano’s token, ADA, has risen 3.6% in 24 hours and is trading at $0.3435, while Bitcoin increased by 10.8% to exchange hands at $24,427. Ethereum closely followed in BTC’s steps, with a 7% move to $1,680. The total market capitalization is back above $1.1 trillion, with investors capitalizing on the fresh bullish momentum being witnessed in the market this week. Cardano founder Charles Hoskinson has criticized crypto critics for their unfair representation of the crypto market, pointing out the recent fall of three banks in the US. The sharp downtrend in Cardano price has slowed down, and ADA price has tapped liquidity and rebounded sharply to areas marginally above $0.35. The buy signal from the Moving Average Convergence Divergence (MACD) reveals the path with the least resistance remains to the upside. In the four-hour chart, the buy signal is more aggressive, and two short-term levels will likely determine where Cardano price is headed next. The SuperTrend indicator trails the price, implying that the path with the least resistance is currently to the upside.
