Cardano's price reached its highest level since March 30, but then experienced a 14% decline, along with other major cryptocurrencies, due to profit-taking. The recent rally in Cardano was driven by factors such as Charles Hoskinson's plans to become more active in U.S. policy and the increase in Cardano's DeFi total value locked. The coin also saw a rise in futures open interest and is close to forming a golden cross, although a bearish engulfing pattern suggests the rally may be losing steam. A potential reversal could bring the price down to around $0.45.



Other News from Today