After Cardano experienced a 50% correction, different technical and on-chain measurements indicate positive developments.
Cardano has returned to price levels not seen since the beginning of the summer. Buy signals are beginning to emerge, despite the huge losses that have occurred. An increase in the buying pressure behind ADA could see it rise to $ 0.093.
After a month-long correction period, Cardano looks set to recover again and possibly continue the uptrend seen before the Shelley upgrade.
Cardano Says Buy Signals
Cardano experienced a serious 50% correction after hitting a new annual peak of $ 0.155 at the end of August.
The huge losses that occurred last month saw this altcoin fall to its 200-day moving average, which is currently serving as support. While many investors are still reluctant to return to the market, different metrics show that the so-called “Ethereum killer” is ready to recover.
The TD sequential indicator currently offers a buy signal in ADA’s journal chart. The bullish pattern developed into a red nine candlestick, causing one to four candlesticks to rise.