The cryptography market is in the central phase, marked by reversals of trends, short -term mixed performance and total capitalization at 2.89 billions of dollars. While Bitcoin, Ethereum, XRP, etc., and a few others have slipped, Cardano (ADA) Price managed to maintain the bullish momentum. The third generation token experienced a robust rally this week, offering more than 16% of earnings while it was a minimum of $ 0.62 to $ 0.73. With the increase in investors’ feelings, ADA Price seems to be preparing for its next big movement.
The ADA price started the week by consolidating near the area from $ 0.62 to $ 0.63, but broke out in mid -week and climbed to the resistance at $ 0.68. In addition, detail participation jumped, with the activity of the portfolio and the activity addressed by the two -digit week. According to some reports, more than $ 16 million in ADA have left the scholarships, indicating that investors transferring tokens to cold storage, generally a bullish signal. The open interest in ADA derivatives has skyrocketed parallel to the appreciation of cash prices, confirming an increase in market engagement.
Now that the ADA price has reached a large price area, a break can cause the price to trigger an increase of almost $ 1.
As the graphic above shows, the ADA price is blocked between the pivot resistance and the support levels of the 200 and 50 days, respectively. On the other hand, the Mac shows a drop in sales pressure, including a bullish crossover, which could strengthen the momentum upwards. Although the RSI has not yet reached the Surachat beach, the increase in levels indicates an increase in the interest of the purchase.
With optimistic techniques surrounding the ADA price rally, the next critical resistance could be about $ 0.77 and if the price exceeds the range, an increase greater than $ 1 could be imminent. In addition, a potential golden cross can also mitigate the bullish activity in the next two days.
The bullish feeling dominated the ecosystem, supported by social chatter providing up around $ 1 or, optimistic, even $ 4 in the coming months. The crypto is in a technical increase and focused on feeling with key resistance levels at $ 0.77 and $ 0.1.1 as next home for Bulls. Consequently, the sustained momentum and the support macro-conditions could propel the price of Cardano (ADA) to the new annual heights.
