• ADA continued its uptrend for the fourth consecutive day.
• ADA’s funding rates hit the highest point in the month.

Cardano’s [ADA] price has recently experienced a remarkable increase. Alongside this positive price trend, one important metric reached its highest point in the past month, while another metric showed a neutral signal.

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ADA sees consecutive uptrends

Over the past four days, Cardano has consistently experienced upward price trends, reaching its highest increase of over 3% on 21 October. These consecutive uptrends have led to a transition into a bullish trend, as confirmed by the Relative Strength Index (RSI).

Prior to this shift, ADA had been trending below the neutral line, primarily due to a six-day consecutive decline at the start of the month. 

Additionally, at press time, Cardano maintained its position above the neutral line, and it is trading at approximately $0.2, with a price increase of less than 1%.

Cardano’s volume seems undisturbed

According to data from Santiment, there do not appear to be any significant shifts in the volume trend. At the time of this report, there was no noticeable spike in volume, and it hovered around $143 million. 

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Author: Adewale Olarinde

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