Cardano $1.1 ADA coin, the main network asset of the network, has once again entered the radar of investors, with its value gaining 12 percent in the last 24 hours. The price of ADA exceeded the 1 dollar threshold and reached the highest level in the last three weeks. Bitcoin (BTC) 
$96,525.2Ethereum (ETH) 
$3,440.9Solana (SOL) and Dogecoin 
$0.339813 big like (DOGE) cryptocurrencyWhile TLs increased by less than 2 percent, this rapid rise of ADA attracted the attention of investors.
Why Is Cardano Rising?
of Cardano ISLANDAlthough the recent rise in the price of is not based on a fundamental reason, important developments expected in the short term have a positive impact on the price. These include the Bitcoin-focused decentralized finance ecosystem and efforts to increase the scalability and performance of the network. Also Cardano has different blockchain The steps taken to make it work better with its networks also support a long-term increase in value.
technical analysis ADA reveals that the price will continue to move in a positive direction. cryptocurrency analyst Omkar GodboleAccording to , ADA’s three-day rise ended a four-week downtrend. This trend change indicates that the price may retest the $1.32 peak seen at the beginning of December. In addition, moving average convergence divergence (MACD) indicator signals that the price may rise further. RSI The indicator also supports upward price movement.
What Do Technical Indicators Say for ADA?
Technical indicators reveal that a value increase of up to 30 percent is possible for ADA. While the rise of the MACD signals to investors that momentum is strong, the RSI indicator confirms that price movements are gaining momentum.
Analysts popular altcoinIt indicates that it is testing the resistance at $1.32 and if this level is broken, larger gains are possible.
Cardano’s ADA coin looks promising for investors with current technical data and developments on the network. Investors are closely watching whether this upward trend will continue.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
