Cardano Poised for a Potential Rebound—But Will ADA Price Sustain Above $1.2 This Time?
As the price continues to trade within the scope of scope, Cardano is one of the tokens that have lost their attention. At the same time, it turns out that it is a potential candidate for the live ETF. Regardless of the sluggish price, the Cardano event has greatly increased, and the number of daily event addresses exceeds 50,000. In addition, the whale has recently poured into the Internet and purchased more than 100 million ADA token in a few days.
this ADA price As the market dynamics changed slightly and opposed the Bulls, it has just risen by $ 1. As the price of Bitcoin continues to exceed $ 105K, other Altcoins (such as Cardano) has also gained momentum because it exceeds key resistance. However, the price has not exceeded $ 1, which may cause some concerns about the next price action. At the same time, the price has reached the edge of integration, suggesting that there may be potential breakthroughs.
As shown in the figure above, the ADA reached the apex of a decisive symmetrical triangle during test support, which is the key stage of the rally. With the support of the price, rebound is critical to maintaining the power of height. In addition, the volume is also facing extreme squeezing, which flashes huge bullish signals for cryptocurrencies. At the same time, the technology that reaches the local low will trigger a rebound.
CHAIKIN currency flow is used to measure the currency flow on the platform, which has severely reduced to less than 0, implying the huge weaknesses in the market. However, these levels show the differences in bullish, which indicates that the intensity has risen slightly. In addition, RSI transactions are within the average range, indicating that the Bulls are waiting for the right time to enter. Therefore, the price of Cardano is traded at a critical stage, so the price of nearly $ 1.020 a day may trigger a new bullish and relocated to $ 1.01.
However, the violations beyond the decisive triangle will only spread the road more than the price of ADA more than 1.2 US dollars, which may exceed the falling range and reach a fresh high.
