Cardano

Resistance

<p><a href="https://cryptoticker.io/en/token/ADA" rel="noopener noreferrer nofollow"><i>Cardano (ADA)</i></a><i>, currently trading at $0.40, is making headlines with a potential 10% rally and a staggering 1,218% increase in whale inflows. So, this article delves into the technical analysis and whale activity signaling a significant move for </i><a href="https://www.bitget.com/spot/ADAUSDT?vipCode=94qs" rel="noopener noreferrer nofollow"><i>ADA price</i></a><i>.</i></p>
<figure class="image"><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_ADA_Performance_5677d3b4b6.png" alt="By TradingView - ADA Performance">
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<h2 id="strong-1-cardano-price-analysis-testing-key-resistance-levels-strong"><strong>1- Cardano Price Analysis: Testing Key Resistance Levels</strong></h2>
<p><a href="https://www.bitget.com/spot/ADAUSDT?vipCode=94qs" rel="noopener noreferrer nofollow">Cardano's price</a> is retesting its descending trendline, which has been in play since late March. A breakout above this trendline could signal a bullish move, potentially leading to a 10% rise to retest its resistance level at $0.426. The bullish momentum is further supported by a divergence in the Relative Strength Index (RSI) and the Awesome Oscillator (AO).</p>
<h3 id="strong-cardano-technical-analysis-signals-bullish-potential-strong"><strong>Cardano Technical Analysis Signals Bullish Potential</strong></h3>
<p>The formation of a lower low on the daily chart on July 5 contrasts with a higher high in the RSI, a phenomenon known as bullish divergence. This often leads to a trend reversal or a short-term rally. If <a href="https://www.tradingview.com/symbols/ADAUSD/?aff_id=127958" rel="noopener noreferrer nofollow">ADA price</a> closes above $0.426, it could further extend the rally by an additional 31% to $0.564, retracing 50% of its previous price range between $0.318 and $0.810.</p>
<p><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/ADAUSD_2024_07_11_ALL_e1607dc2b6.png" alt="By TradingView - ADAUSD_2024-07-11 (ALL)"></p>
<p>However, a daily candlestick close below $0.317 could invalidate this bullish outlook, leading to a potential 10% crash to $0.283.</p>
<h2 id="strong-2-massive-whale-inflows-what-s-driving-the-surge-strong"><strong>2- Massive Whale Inflows: What's Driving the Surge?</strong></h2>
<p>Cardano is experiencing an extraordinary surge in whale inflows, with a 1,218% increase recorded. According to IntoTheBlock data, large holder inflows skyrocketed from 14.51 million ADA on July 8 to 110.7 million ADA on July 9. This spike follows a period of flattened inflows starting from July 5.</p>
<h3 id="strong-implications-of-whale-inflows-on-cardano-price-strong"><strong>Implications of Whale Inflows on Cardano Price</strong></h3>
<p>Whale inflows often indicate significant buying activity, as large addresses typically buy on centralized exchanges and transfer to cold storage. This behavior can signal price bottoms, as these addresses prefer bulk purchases after substantial price drops. The recent whale activity might be a precursor to a bullish move for <a href="https://www.bitget.com/spot/ADAUSDT?vipCode=94qs" rel="noopener noreferrer nofollow">ADA price</a>.</p>
<p>Despite recent market fluctuations, <a href="https://www.tradingview.com/symbols/ADAUSD/?aff_id=127958" rel="noopener noreferrer nofollow">ADA price</a> has shown stability, rising 5.26% in the last 24 hours to $0.40. However, it's crucial to note that whale transfers can also involve funds moved for business purposes.</p>
<h2 id="strong-3-cardano-s-path-to-the-chang-upgrade-strong"><strong>3- Cardano's Path to the Chang Upgrade</strong></h2>
<p>Cardano is advancing toward its highly anticipated Chang upgrade, with the release of Cardano Node 9.0.0. This upgrade will introduce staggered governance functionality, facilitating adoption and onboarding for new roles in governance. The upgrade is separated into two phases, promising a structured and gradual rollout.</p>
<p><a href="https://cryptoticker.io/en/token/ADA" rel="noopener noreferrer nofollow"><i>Cardano's price</i></a><i> is at a pivotal point, with technical indicators and whale activity suggesting a significant move. A breakout above the descending trendline could trigger a 10% rally, while massive whale inflows hint at substantial buying interest. As ADA progresses toward its Chang upgrade, the cryptocurrency community eagerly watches for the next big move.</i></p>

Cardano Price Analysis: Potential 10% Surge and Massive Whale Inflows

Зміст

CryptoTicker ENG

Інші статті, опубліковані 11 лип. 2024 р.

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