Cardano$ADA exits the downtrend
The 3% rise in ADA over the last day has pushed the price above the descending channel that has confined it from June 11 to June 15. The breakout above the upper boundary of the channel signals a potential trend reversal and the beginning of an upward movement.
The Balance of Power (BoP) indicator confirms the revival of growth. At the time of writing, it is positive at 0.33. Values above zero indicate that buyers are in control of the market and are pushing the cryptocurrency price higher.
The bullish sentiment is also maintained among ADA futures traders, as seen by the positive funding rate of the coin. At the time of publication, it stands at 0.0081%, according to Coinglass. This means that most traders are betting on the price increase of the altcoin.
