Cardano (ADA) Sees 58% Intraday Reversal, Key Levels to Watch
In the recovery of the cryptocurrency market, the local token ADA (ADA) of Caldano blockchain has greatly rebounded and is expected to obtain a substantial rise. The potential reasoning behind this bullish prospect includes 58 % of its 58 % of the daily price reversal and whales, and the interest of long -term holders and investors is increasing.
ADA technology analysis and the upcoming level
According to expert technical analysis, ADA has experienced a major price reversal, returning to the scope of bullishness, and the transaction volume is higher than the important level of support of 0.71 US dollars. In addition, it has successfully re -tested the 200 index moving average (EMA) within the daily range, which makes Altcoin more beneficial to the potential bull market.
According to the recent price action and historical momentum, ADA may face mild resistance, close to $ 0.85. If it successfully violates this level and closes $ 0.86 above the daily candle, it is likely to soar by 45 % and restore its nearest high point 1.25 US dollars.
In addition, ADA has formed a bullish hammer candlestick pattern, which supports this positive prospect and marks the potential upcoming rally.
ADA, worth 82 million US dollars
In this bullish prospect, whales and long -term holders have continued to accumulate. This started in the past 24 hours, and ADA experienced a sharp decline in the past.
A major chain analysis company, Small shopAccording to reports, the exchanges have witnessed the XRP token worth $ 82 million over the past 48 hours. In continuous price recovery, this large amount of outflow indicates potential accumulation, which may promote the pressure of purchase and further rise.
Traders have strong bets in long positions
In addition to long -term holders, it is also found that traders have performed excessive leverage on the distant, as shown in Coinglass data.
At the time of press time, the level of $ 0.73 is a leveraged area. Traders hold long positions worth $ 35 million here. AidaEssence On the contrary, $ 0.83 is another short -term leveraged level in the short -term aspect. Sellers only hold short positions worth US $ 3.32 million, which is 10 times lower than the long -term holdings of the Bulls.
When combining all these chain indicators with technical analysis, it seems that the Bulls have returned to the market and supported Altcoin to obtain a huge momentum.
