Cardano (ADA) has experienced a 52% surge in price over the past week, but has seen a 5% pullback in the past 24 hours. Although ADA remains in an uptrend, indicators such as the ADX and whale activity suggest that the strength of the trend is weakening. The ADX has declined from nearly 70 to its current level of 45.02, indicating a slowdown in momentum. Additionally, the accumulation of ADA by large wallets, or "whales," has stabilized, suggesting a potential plateau in buying activity. While ADA's EMA lines are in a bullish setup, the price has fallen below the shortest EMA line, indicating a potential fade in the uptrend. If the uptrend regains strength, ADA could test resistance levels at $0.62 and $0.67, with a potential increase to $0.80. However, if the bullish momentum fails and the trend reverses, support zones around $0.47 and possibly as low as $0.41 may come into play.



Other News from Today