Favorite of investors Altcoin CARDANO $0.696641The price of the (island) price in recent weeks is struggling to rise below $ 0.85, a significant resistance level, while technical indicators show that a “gold intersection” signal is approaching. Ada Coin, which shows a strong recovery from local bottom levels, has difficulty in rising due to decrease in daily active addresses and low volatility despite the increase in volume. Although he managed to support the 200 -day moving average as a support, he has not been able to make the gains permanent after the short -term decline trend was broken.
Technical view of the island coin graph
CoinMarketcap dataAccording to what Cardano has been recorded in recent days, a volume increase exceeding 30-40 percent, but a significant decrease in daily active addresses was a significant decrease. This is interpreted as an indicator that the whale levels have accumulated big investors and this reduces price volatility. The decline in individual investor participation Ada CoinIt causes the price to be stuck in a certain range.
Moreover, the price is technically a downward. Parallel channel formationmoving inside. Although it was traded above the 200 -day moving average, it has not been able to break the resistance level of this channel. This indicates that there is a slimming in the power of those who expect to rise. Even Short position liquidations, which exceeding about $ 800 million, could not prevent the decrease in active addresses while the price increased.
Potential rise scenario based on gold intersection
On Ada Coin’s price chart Relative power index (RSI) has reached the upper threshold. The entry of RSI into the overcrease zone may trigger an output movement from the current price model (parallel channel). Such a mobility can lead to an important technical signal known as “gold intersection ör from 50 days and 200 -day moving averages.
Gold intersection The confirmation of the signal is considered to be the beginning of a strong rise trend that can carry Cardano’s price over $ 1. For this reason, the candle closure of the week is very critical for Ada Coin.
On the other hand, the fact that the price is not permanently over $ 0.85 can lead to further prolongation of the current consolidation period.
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.
