Cardano’s price is above critical support levels and positive signals are observed in the supply-demand balance. The daily spotlight volume in the market reaches 700 million dollars, the price of crypto currency may indicate the upward movements that may be experienced in the near future. The price is around 0.70 dollars with an increase of approximately 40 percent after the decline in April.
CARDANO (ADA)
Increasing volume in both spot and futures markets reveals that the demand for Cardano is strengthened. Spot market volume exceeds $ 700 million in recent weeks, long -term investors and institutions may be perceived as increasing. In the futures market, the open position size increased to $ 576 million in April, reaching 782 million dollars, the trend is considered among the supporting elements.
In addition, the positive level of financing increases the hopes of investors that the price will move upward. The positive financing rate is thought to positively affect the balance in the market, stating that Long position holders require a small fee.
Ada Coin Forecasts
Technical analysis assessments reveal patterns that offer a possible rise signal in the price of Cardano. In the daily graph, the reverse head and shoulder formation is observed, while a large falling triangular formation points to the rise. The fact that the price is on the upper edge of the triangular formation indicates potentially a break.
In addition, the double foot formation and the determined resistance levels have created expectations among investors. While the determined resistance level is $ 1,170, a 67 percent increase is expected to increase if the price reaches this level.
Market data and technical analysis signals show that Cardano’s price movements may continue to increase in price movements. This may cause investors to closely monitor the market and evaluate their positions accordingly.
In the general assessment, the increase in the transaction volume and the positive signals in the technical indicators indicate that Cardano can gain strength at the points when he finds support in the short term. Market investors may take a cautious approach to whether the formations will continue.
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.
