Cardano (ADA) is showing signs of potential for a breakout, with increasing inflows and strong bullish sentiment from long-term holders. The Mean Coin Age metric suggests LTHs are holding onto their ADA, indicating confidence in future price rises. This behavior, along with constrained supply, could create upward pressure on the price. Technical indicators, such as the Chaikin Money Flow, support bullish expectations and a strong demand for Cardano. ADA's price breaking out of a descending wedge pattern could lead to a potential 26% rally to $0.99, but it will need to breach and maintain support levels at $0.85 and $0.77. Failure to do so could result in a decline to $0.70.



Other News from Today