Chart Of The Day: Cardano Bulls Set Eyes On $3.00 As Cryptos Rebound | investing.com – Investing.com

Chart Of The Day: Cardano Bulls Set Eyes On $3.00 As Cryptos Rebound | investing.com – Investing.com

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After pulling back from their recent highs, the major cryptocurrencies were all testing—and some bouncing—off key technical levels ahead of the weekend. So, are we about to see renewed bullish momentum in the coming days?

There is no doubt where the market’s focus is today, as the much-hyped speech from at the conference takes centre stage. We could see some big moves in the , , and other traditional markets depending on whether the Fed Chair will announce a definitive plan for tapering QE or delay that decision until the FOMC’s September meeting.

I have my doubts as to whether Powell will announce anything significant as the rising cases of the Delta variant of COVID-19 means he has a bit of freedom to buy himself some time. Given this uncertainty, it is best to wait until after his speech before looking for new trades. While the financial markets could be impacted as a whole, crypto currencies will probably see relatively lower volatility. This is partly why I am looking at (ADA) and (BTC) charts instead.

Cardano’s token is currently the world’s third-largest digital currency after BTC and ,