Cardano (Ada), for the first time since March $ 0.70 dollars, attracted the attention of investors again. This rise following the wavy last weeks in the crypto currency market mobilized the analysts. While the possibility of the price may approach $ 1, market experts call on investors to be cautious.
Technical indicators give strong signals
The price of Cardano is based on an important resistance point as it approaches $ 0.74. According to analysts, if this level is broken upward, a movement up to $ 0.88 may be possible. In the last seven -day period, the 12 %increase in value points to a significant increase in interest in the island.
Analysis by Ali Charts is emphasized that the $ 0.74 level is a critical test area. If this threshold is overcome, the short -term upward trend for Cardano may accelerate. Another prominent element in the technical analysis is the “Golden Cross” formation that becomes evident in the 4 -hour graph. This structure is considered an important signal that supports the upward movement potential.
The price is currently above the 50 -term moving average, increasing the confidence of investors. In addition, Money Flow Index (MFI) at 55.33 shows that the money entering the market has increased and the procurement pressure is strengthened.
The interest of whales again to the island
These recovery signals in Cardano seem to have raised the appetite of the major investors. The fact that the wallets, which hold 10 million to 100 million islands, begin to control 35.5 %of the total supply, reveals that an important accumulation has started again. This development shows that long -term expectations are still alive.
The expansion in the transaction volume is also remarkable. The volume increased by 33 %in the last 24 hours and reached $ 723 million. This data shows that the mobility in the market has increased and the interest in the island has risen again. Volume increase usually gives strong clues about the direction of the price and it is possible to say that this direction is up.
In addition, after the management change in the SEC, ETF expectations for the island came up again. According to recent assessments, the probability of Spot ETF approval has increased to 51 %. The withdrawal of this ratio may be effective in starting investors to follow the island more.
When the price movements are examined, the $ 0.70-0.72 range stands out as support, and the $ 0.55-0.57 range stands out as support. In the Bollinger bands analysis, the price of the price to the upper band shows that the trend may continue upward.
Although uncertainties in the crypto money market persist, the technical and basic signals for Cardano have created a short -term optimism. However, experts remind you that investors should keep their risks under control during this kind of rise.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
