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    Home » Cardano (ADA) Eyes $1 After 11% Rally and Key Resistance Test
    Cardano News

    Cardano (ADA) Eyes $1 After 11% Rally and Key Resistance Test

    Ali RazaBy Ali RazaApril 29, 2025No Comments196 Views
    Cardano price breakout
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    Cardano price breakout. Over the previous seven days, Cardano’s (ADA) price has increased by 11%; its value now ranges between $0.62 and $0.71. From its path for most of March, when ADA’s price dropped from $1.18 to $0.63, its performance represents a dramatic turnaround.

    Although ADA is now testing a key resistance level, the current recovery is remarkable. At this juncture, a good breakout might open the path for a more seamless advance towards the $1 mark. Will that be the case, though? Let us investigate.

    Cardano Likes Support

    The daily chart shows that the Cardano price surge followed the breakout of a declining wedge of the coin. A falling wedge is a bullish pattern suggesting an upward potential price break-through. It becomes apparent when the price continues to drop, but the trendlines are converging, indicating that sellers are losing strength and buyers may soon take over. ADA bulls have confirmed the uptrend as the price trades above the upper trendline as of right now.

    ADA Eyes Breakout Above 200 EMA

    ADA’s climb to $0.71 also guarantees that the price is now testing the 200-day Exponential Moving Average (EMA). Tracking pricing activity over the past 200 days, the 200 EMA is a trend-following indicator. When the price crosses the 200 EMA and buyers are in charge, the trend is usually positive.

    On the other hand, a bearish trend indicates seller control if the price is below the 200-day exponential moving average (EMA). Cardano’s price is currently falling on the brink of surpassing the 200 EMA. Should this succeed, ADA could move toward $1 in the short term. The Money Flow Index (MFI), which measures buying and selling pressure, has also increased amid this activity. This increase confirms the hypothesis that bulls are in charge and bears are out of the way.

    Key Indicator Supports ADA Price Rally

    Regarding the short-term view, CCN noted that the Parabolic Stop And Reverse (SAR) indicator’s dots have positioned below the price. Usually, the trend is bearish with considerable resistance ahead when the dots lie above the price. Since it is the other way around, however, it suggests that ADA’s pricing has strong support to maintain a price trading higher. The altcoin exhibits strong bullish momentum, having surpassed the 0.618 Fibonacci barrier.

    Should ADA retain its line, the following action for the bitcoin might be a protracted surge to $0.94. Conversely, a collapse below the golden pocket ratio could cause the price to drop to $0.53, therefore negating the optimistic bias.

    Cardano price breakout
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    Ali Raza
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    An enigmatic character in the crypto community, Ali Raza has written extensively about the coinz4u and all its facets. Some think he's a hacker, while others think he's a trader. His words have the power to shift markets, and his writing is like a key that unlocks the mysteries of the crypto world. The tales told by Edyme are like enigmas in a cryptography book. But at his core, who is he? Like the renowned Satoshi Nakamoto, some think he's using a pseudonym.

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