CandleFocus

Cardano (ADA) Price Could Soar 30%, But There’s a Catch

Author: Content Editor
The native token of the Cardano blockchain, ADA, is expected to break its downtrend and potentially surge by 30% if it breaks above $1. Traders and investors have shown attention to ADA, leading to a recovery in its price. ADA is currently consolidating near a resistance level of $0.95, and breaking above $1 could result in a further increase to $1.25. On the other hand, if ADA falls below $0.85, it may find support at $0.72. The Relative Strength Index indicates potential upside momentum, and there has been a significant outflow of ADA tokens from exchanges. The open interest in ADA has also increased, suggesting heightened trader activity. ADA is currently trading around $0.94 and has experienced a 5.10% price surge in the past 24 hours.

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