As a seasoned researcher with years of experience in the cryptocurrency market, I’ve seen my fair share of ups and downs. But the recent surge of ADA breaking above $1 for the first time since 2022 has certainly caught my attention!
ADA broke above $1!
Key Support levels: $0.90
Key Resistance levels: $1.3
1. Buyers Sent the Price Above $1
For the first instance since the year 2022, ADA has surpassed the $1 mark once again. This remarkable surge has placed this digital currency under the spotlight recently. At present, investors are making efforts to maintain the price above this significant psychological barrier. If they manage to do so, the upward trend could persist.
2. Strong Buyers are Back
As a crypto investor, I’ve taken a closer look at the weekly trading volume of Cardano (ADA), and it’s clear that we haven’t seen such demand since the last bull market. This is an encouraging sign for altcoin holders like myself, suggesting that the altcoin season might be back on track. With this momentum, I believe ADA could see significant gains in the coming weeks and months.
3. Momentum is Bullish
Despite currently stabilizing near $1 during this update, the overall trend remains optimistic (bullish) as evidenced by the MACD’s weekly pattern. As long as the histogram continues to reach new highs, there appears to be no compelling reason for the upward momentum to slow down.
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2024-11-27 09:34