The native token of the Cardano blockchain, ADA, has experienced a significant price reversal and is showing signs of substantial upside momentum. Its intraday price reversed by 58% and it has successfully retested its 200 Exponential Moving Average, making ADA more favorable for a potential bull run. Technical analysis suggests that ADA may face mild resistance near $0.85, but if it breaks through and closes above $0.86, it could potentially soar by 45% and reclaim its recent high of $1.25. Whales, long-term holders, and investors have shown growing interest and have continued to accumulate ADA. On-chain analytics suggest that there has been an outflow of XRP tokens from exchanges, indicating potential accumulation and buying pressure. Traders are also found to be over-leveraged on the long side, providing strong support for ADA. Overall, combining these factors with technical analysis suggests that ADA is poised for significant upside momentum.



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