Cardano (ADA) price action offered some respite to holders as the price broke above the bearish trend line.
Cardano price action has been rather dull of late, with ADA trading at $0.3186 at press time, up just 0.74% on the day. But price is down a massive 89.81% from its Sept. 2021 all-time high.
From a technical standpoint, Cardano price had been moving in a bearish trend line for over two weeks. Although at press time, price action was starting to break free.
While ADA price-breaking the bearish trend line offered some short-term respite for holders, it is crucial for the price to establish above the $0.330 resistance level and then flip it into support.
Older ADA on the Move
The recent short-term volatility in Cardano price seemed to put some old coins back in circulation. The Age Consumed metric for ADA highlighted that after the price action turned bearish, a notable amount of…
