The price of Cardano (ADA) has seen a small increase of 2% on the daily chart, reaching $0.2514.
This comes as the cryptocurrency is preparing to break out of a descending channel pattern, which could lead to higher prices if the breakout happens.
According to technical indicators, the relative strength index (RSI) is around 67, indicating higher buying pressure, while moving averages are confirming a bullish crossover on shorter timeframes.