Cardano (ADA) Shows Potential Bullish Momentum After Breaking Key Resistance Around $0.85
Main Idea
Cardano (ADA) has broken a key resistance level with a 7% rally, supported by high trading volume and bullish technical signals, targeting $1.80 as the next major milestone.
Key Points
1. Cardano (ADA) broke the $0.85 resistance level, establishing a support range of $0.56–$0.59, with $1.00 and $1.80 identified as key future targets.
2. Trading volume surged to $2.46 billion, and ADA's market capitalization reached $32.73 billion, reflecting growing market confidence.
3. A falling wedge pattern breakout on the weekly chart reinforces the likelihood of sustained upward price movement.
4. Investor sentiment has turned positive, with the breakout above $0.85 validating the potential for a continued rally toward $1.80.
5. Cardano's circulating supply is approaching its maximum threshold of 45 billion ADA, with current circulation at 35.39 billion.
Description
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