Cardano’s (ADA) price has managed a steady 13.5% in March after experiencing a 32% dip in February. The altcoin is still down 15% in Q1, but technical data is beginning to point to the continuation of the recent positive price action.
Cardano 1-day chart. Source: Cointelegraph/TradingView
Despite ADA price moving sideways between $0.78 and $0.70 over the past 10 days, social sentiment related to the altcoin has hit a new year-to-date high.
Cardano’s “bullish” sentiment soars to 4-month high
According to Santiment, an onchain intelligence platform, Cardano’s social sentiment exhibited its highest positive measurement in four months.
ADA investors received a boost from the US Securities and Exchange Commission’s (SEC) recent comments, which classified Cardano’s use case as “smart contracts for government services.” The SEC statement was followed by ADA’s highest ratio of positive comments since the