ADA bears eye $0.20, with the longer-term downtrend still in-play.
ADA, the native cryptocurrency of the smart-contract-enabled, high-performance Cardano blockchain, bounced by around 2% on Tuesday, and was last changing hands in the $0.26 area, having briefly dipped under $0.25 during Monday’s crypto-wide sell-off on hawkish central bank/recession concerns.
ADA’s pick-up on Tuesday comes amid a broad recovery in cryptocurrency markets, despite another hawkish central bank surprise, this time from the Bank of Japan, who unexpectedly tweaked their so-called “yield curve control” policy, facilitating a near 20 bps jump in Japanese 10-year government bond yields (similar to the effect of a rate hike).
