After pumping 25% this week, the ADA price is now trading over $0.70. Cardano’s token is just one of a few “old” altcoins that are pumping this week.
Other ones include ALGO and XRP, to name a few.
Crypto analyst “Sssebi” who has over 15k followers on X, posted a viral ADA chart this morning.
The numbers are looking strong for ADA right now. The token pushed from $0.518 all the way up to $0.757, giving traders a solid 46% move. After hitting that peak, ADA pulled back to what traders call the “golden pocket” – a key support zone that often signals where prices might bounce.
And bounce it did. The price found support right at $0.706, with $0.757 now acting as the level to break through. This isn’t just random price action – these levels line up with important Fibonacci retracement points that traders watch closely.
The trading volume tells an interesting story too. When ADA made its first big move up, the volume was heavy. But as the price pulled back, the volume dropped off, suggesting traders aren’t rushing to sell their positions.
The RSI, a popular momentum indicator, sits at 68.73. While this shows strong momentum, it’s not quite in the danger zone of being overbought. If ADA can hold above $0.706, traders are eyeing the $1.00 level as the next major target. However, losing this support could send prices back to test lower levels around $0.65 or even $0.518.
Read also: Why is Stellar (XLM) Price Up?
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