This week, Cardano (ADA) and Hedera (HBAR) are showing notable moves on the charts, making their way into the list of trending cryptocurrencies.
Cardano ADA Stabilizes at $0.75
ADA's recent climb began after it touched a 24-hour low of $0.7296. Buyers quickly pushed the price up 2.37% to $0.7509, preparing it to test the resistance at $0.7550. This level has capped the price for several sessions. A break above it, especially with higher trading volume, could push ADA toward its recent high at $0.7601 and beyond. The short-term chart shows higher lows on the 15-minute timeframe, hinting at growing bullish momentum.
Hedera HBAR Close to Breakout
Hedera has sharply bounced back from its 100% Fibonacci extension level at $0.23459, establishing support between $0.22460 and $0.22052. The price is currently testing a descending trendline at $0.254, close to the 23.6% Fibonacci retracement level at $0.25044. Indicators point toward a potential bullish shift. A solid close above the $0.254–$0.255 range could pave the way to $0.28–$0.30.
Launch of BlockDAG and Its Market Impact
Meanwhile, the launch of BlockDAG is capturing attention with its fast pace. The price of the new token is $0.0016 and will be available for only a few hours. It's anticipated to rise to $0.0276 before reaching the confirmed launch price of $0.05. With $370M already raised and 25 billion tokens sold, market focus is shifting toward time-sensitive opportunities. Auctions and demonstrations of mining capabilities are also part of the launch activities.
Cardano and Hedera are testing resistance at critical levels, which could influence their next moves. The launch of BlockDAG adds further dynamics to the market, creating time-sensitive urgency for investors.
