The price of Cardano (ADA) has increased by nearly 10% in the past 24 hours due to increased demand and trading volume. Technical analysis suggests that if buying pressure continues, ADA may reclaim its two-year high of $1.32. It has been trading within a descending triangle pattern since December 3, but the recent surge has brought it close to breaking above the upper line of the triangle, indicating a potential bullish reversal. Positive readings from the ADA daily chart, such as the Elder-Ray Index and MACD, further support this bullish outlook. However, if the price fails to break the $0.92 resistance level, it may invalidate the bullish outlook and drop to the $0.84 support level.



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