π Cardano ( $ADA ) is regaining momentum, trading at $0.7284 after bouncing from a weekly low of $0.7238. Despite a 9.6% weekly dip, ADA remains up over 18% in the past month, fueled by Midnight sidechain hype and the upcoming Glacier airdrop.
πΈ A key bullish signal is the $932M ADA outflow from centralized exchangesβmirroring accumulation patterns seen before ADAβs 2021 run to $3.10. This shift suggests growing investor confidence and decreasing sell pressure.
π On the 4-hour chart, ADA is trying to reclaim the 9-period SMA at $0.7338. RSI sits at 44.11, hinting at weakening bearish momentum. A break above $0.75 could confirm a bullish divergence, setting the stage for moves to $0.84 and eventually $1.
π‘οΈ Key support sits at $0.66, acting as the line in the sand for bulls. A push past $0.75 with volume may ignite the next rally.
β οΈ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
Top comments (0)