Cardano

As the price of Cardano (<a href="https://finbold.com/cryptocurrency/cardano/" rel="noopener noreferrer nofollow">ADA</a>) continues to improve, it has faced a massive ‘sell wall’ that currently stands between $0.40 and $0.42, the breaking of which one <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> analyst believes might act as a trigger for the token’s <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> advance in the near future.Specifically, <a href="https://finbold.com/guide/how-to-buy-cardano/" rel="noopener noreferrer nofollow">Cardano’s digital asset</a> has encountered a “colossal” sell wall in the amount of 3.85 billion ADA. However, “slicing through this barrier may spark a bull rally for ADA, as it faces minimal resistance ahead,” according to the analysis of the <a href="https://twitter.com/ali_charts/status/1642665462608834561" rel="noopener noreferrer nofollow">data</a> shared by the <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> expert and analyst Ali Martinez on April 3.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/dd09ec9c34c647ec8f287f8b2c81ec27.jpg" />Cardano exchange – onchain market depth. Source: <a href="https://twitter.com/ali_charts/status/1642665462608834561" rel="noopener noreferrer nofollow">Ali Martinez</a>As a reminder, a ‘sell wall’ refers to a very large sell order or a cumulation of sell orders at a particular price level that acts as resistance preventing the asset’s price from going up until the entire sell volume is complete. This means that if <a href="https://finbold.com/topic/cardano/" rel="noopener noreferrer nofollow">Cardano</a> succeeds in overcoming this sell order, little resistance would stay in its way toward advancing further up.<h2 id="header-0">Cardano price analysis</h2>Meanwhile, ADA was at press time changing hands at the price of $0.40, recording a 3.45% gain in the last 24 hours, as it added up to the cumulative 11.99% price increase across the previous seven days, as well as the even larger advance of 16.33% over the past month, as charts indicate.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3517f583c63748c2922a5a358f4d5f9a.png" />Cardano 30-day price chart. Source: <a href="https://finbold.com/cryptocurrency/cardano/" rel="noopener noreferrer nofollow">Finbold</a>It should be noted that the price of Cardano can also be influenced by factors other than breaking this massive sell wall, including the overall sentiment on the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> market, as well as the continuation of its intensive development efforts, such as the <a href="https://finbold.com/key-cardano-upgrade-goes-live-sending-ada-price-soaring/" rel="noopener noreferrer nofollow">critical upgrade</a> to the Cardano network that has seen its price soar.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Will Cardano bulls triumph over massive sell wall to ignite rally to $0.50?

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