The crypto market continues to signal a bullish potential. However, due to the tides where some cryptocurrencies have changed so much, it is almost impossible for investors to keep up. For Cardano, the tide seems to be returning, and investors stuck to it and possibly re-accumulating in the past few days are about to make a big profit.
Cardano (ADA) Coming to End of Correction
Since Cardano rose to $ 0.15 in mid-July, it is losing power with a conservative correction that sees it revisiting the $ 0.13 support.
Support at this level was strong, but a recovery at $ 0.14 was restricted. However, the bulls coming over the weekend are likely to break above $ 0.15. This move will revive new interest and upward feeling that could spike in a new short term. This will also allow the cryptocurrency to catch up with some of the currently trending coins. When the ADA peaked a few days ago, it also climbed to 6th place in the market rankings, but has dropped to No.8 since the drop. Now in the 6th position is Chainlink (LINK), one of the most used coins in recent weeks.
The other altcoins that have made significant gains with the new wave are Tezos and Ethereum, both of which have risen more than 4% in the last 24 hours. With these gains and with most cryptocurrencies above recent supports, the total market cap has risen to over $ 350 Billion.
Altcoins Ready to Break Bitcoin Dominance
As the atmosphere continues to change and return, most investors believe that Bitcoin dominance is about to break. And while its price continues to drop below $ 12,000, dominance is struggling to stay at 60%, and altcoins are preparing for the uprising. If it drops below the 60% level seen in the latest altcoin season and heads towards 50%, many analysts believe there will probably be an altcoin boom.
Still, there seems to be a calmness and a bit of stagnation among retail investors trying to determine the trend of the week. Cardano, Chainlink, and even Ethereum have already recorded significant gains and the trend seems to be based on the positive, as it has tested higher resistances.