Cardano’s price has risen from $0.6291 to $0.6441, indicating a potential rebound according to Bollinger Bands analysis. The current setup shows a significant upside movement, with the asset currently trading at $0.6330, representing a 0.21% increase in the last 24 hours.
A slight correction from its previous peak has ADA resting around the lower Bollinger Band range, providing a bullish signal for the coin. If bulls regain control of the price trend, Cardano could rebound to between $0.67 and $0.70. However, investors must actively purchase the coin to support a price increase.
Recently, large holders have snapped up over 120 million ADA, but they have pulled back their purchases. For Cardano to sustain any rebound, these holders must maintain momentum. The listing of ADA trading options on Kraken’s OTC platform could increase adoption and boost the coin’s trade.
A recent Bloomberg report suggests that the Securities and Exchange Commission (SEC) has a 75% chance of approving the Cardano exchange-traded fund (ETF), which could trigger bullish sentiments in the community to drive up volume.
Source: https://u.today/cardano-to-067-epic-bollinger-bands-prediction