Cardano price has suffered a vicious downtrend move throughout November. Ss price consolidates, the technicals suggest a bounce occurs while on-chain metrics hint that investors are considering securing profits sooner than later. Key levels have been defined to gauge ADA’s next potential move.
Russia triggered one of the biggest crashes of the crypto market this year, even before FTX, in February, after waging war against Ukraine. The consequential global sanctions led to the citizens of the country relying on cryptocurrencies to conduct their business.
Bitcoin price has recovered 7% of market value after breaking out to the downside following nearly two weeks of consolidation. The newfound low at $15,476 produced a bullish divergence on the Relative Strength Index(RSI), likely enticing traders to consider riding a long position throughout the weekend.