Cardano’s ADA Analysis: Technicals and Fundamentals Indicate a Healthy Uptrend – Key Prices to Watch

According to crypto trader Ali (@ali_charts), multiple metrics indicate the current price uptrend in Cardano (ADA) has strength. Ali points to growing levels of daily active ADA addresses, transaction volumes, and increased whale transactions. This signals strengthening investor interest and engagement on-chain – a constructive sign for the uptrend’s continuation.

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ADA Price Analysis Supports Upside

Crypto analytics provider altFINS has undertaken price analysis revealing bullish momentum across short, medium and long durations. Both MACD and RSI indicators reflect building upside impetus. altFINS highlights ADA recently breached past resistance around $0.68 which had capped moves in late 2023. With this level now surpassed, the firm sees potential to reach $1.00 – 47% above the broken resistance.

Source: altFINS – Start using it today

To capture further upside, altFINS suggests a stop loss around $0.55 based on the prior low. This allows for typical volatility while limiting downside exposure.

When monitoring the rally, key support is noted around $0.46, representing previous resistance now turned support. Below this sits the $0.40-$0.42 zone. Initial resistance stands around $0.65-$0.68 where breakout occurred. Above lies the $1.00 target. Observing these levels guides traders in Cardano’s developing bullish move fueled by improving fundamentals.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

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