Ethereum

Cardano

Resistance

<ul>
 <li><strong>At the time of writing, ADA is trading at $0.6537, up 13.14% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go above $0.68 level, then it will likely test $0.92 resistance level.</strong></li>
</ul>
<p>Following a brief period of decline and trading around the $40,500, bitcoin price reemerged and is now trading around the $43,000 mark. The altcoins are also trending upward, with ADA being the most prominent.</p>
<p>In what may have been its most daring move since the beginning of the month, Cardano surged 13.14% to $0.6537. Its seven-day growth rate is now at 50.22% thanks to its present performance.</p>
<p>Due to the recent rise in <a href="https://thenewscrypto.com/sec-postpones-decision-on-invesco-galaxy-ethereum-etf-to-2024/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> alternatives, crypto investors and users are likely seeking returns and capital allocation on other blockchains, which has led to a substantial increase in the total value locked on Cardano’s ecosystem in recent weeks.</p>
<p>Just before the weekend, the total value locked (TVL) of all <a href="https://thenewscrypto.com/cardano-ada-wallet-receives-crucial-update/" target="_blank" rel="noopener noreferrer nofollow">Cardano</a>-based projects surpassed $330 million, the previous high set in April, and surged to above $440 million. Indigo, a lending protocol, and Minswap, an on-chain exchange, both saw their TVL increase by more than 50% to about $100 million, suggesting that most growth happened in the last week.</p>
<h3 class="wp-block-heading" id="h-significant-climb">Significant Climb</h3>
<p>At the time of writing, ADA is trading at $0.6537, up 13.14% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 97.17%. The price recently broke above the key $0.64 resistance level. However, it faced brief resistance at $0.68 level.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/12/ADA_7D_graph_coinmarketcap.png" alt="" class="wp-image-87470" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/ADA_7D_graph_coinmarketcap.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/12/ADA_7D_graph_coinmarketcap-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go above $0.68 level, then it will likely surge further to test $0.92 resistance level. On the other hand, if the price manages to below $0.63 level then it will likely decline further to test $0.61 support level.</p>

Cardano Breaks Over Key Resistance Level as Market Rebounds

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