Will ADA's price witness a strong rise with the recovery of alternative currencies?
The upper hand in the Cardano (Cardano-ADA) market remained with the bulls (price speculators) yesterday, Wednesday, as the price of Cardano surpassed the 50-day moving average (DMA-50) at $0.6880.
According to CoinMarketCap, the price of ADA has risen by more than 3% in the past 24 hours and by more than 13% in the past seven days, with positive news regarding the trade war boosting risk appetite since Tuesday, providing a positive push for alternative currency prices in general.
Additionally, the recent strong rise in Bitcoin (Bitcoin-BTC) price, which exceeded $93,000 for the first time since early March, has helped alternative currencies - like Cardano - to rise as well. This recent increase in ADA's price may just be the beginning, after the price recently broke out of a flag pattern according to the famous technical analyst Ali_charts.
