Cardano (ADA) shows a significant gradient in sentiment at the moment as both the retail community and institutional players are sharing their excitement about their long, bullish positions. The Market Prophit data demonstrate that the retail crowd sentiment score was at 1.52, whereas smart money sentiment was at 0.72. Both readings are still in the positive lane, indicating a probable short-term convergence of these two disparate types of investors.

This trend was further strengthened by the fact that, according to CryptoQuant information, the 90-day Spot Taker Cumulative Volume Delta (CVD) is still buy-dominant. The trend shows a continuation of sustained accumulation activity on large spot exchanges and, therefore, it signals that demand is stronger than the pressure to sell. Good CVD coincidence with sentiment indicators plays a part in the bigger picture of growing optimism among e-traders.

ADA is trading under pressure despite the positive feeling. As of the press time, the token sells at about 0.614, having depreciated by 2.0 percent over the last 24 hours. The price between the trading range recorded over the period took place between 0.6013 and 0.6268. The price action of ADA is still staying in a wider descending channel, and lower highs as well as lower lows are observed using the daily chart.

The $0.61 price point is becoming a dangerous point of support, since it has held up since early May. This has earlier served as a launching pad for small rebounds and is one major technical area to monitor. Volumes were reported as being about $536 million in the past 24 hours, a moderate level. The market capitalization of ADA at present is pegged at 22.16 billion dollars, and the number of tokens on the market is more than 36 billion.#GENIUSActPass #DAOBaseAIBinanceTGE #FOMCMeeting #BinanceAlphaAlert #MetaplanetBTCPurchase