cardanopredictions

Cardano (ADA) is experiencing a steep rally, with its price surging an impressive 300% over the past five weeks. The altcoin recently surpassed the $1 mark, reaching its highest level in nearly two years. However, this surge has not only sparked optimism among investors but also triggered significant profit-taking.
Small Investors Focus on Selling
In recent weeks, small ADA holders have been actively selling their holdings. Wallets containing between 100 and 10,000 ADA have offloaded over 72 million ADA, valued at more than $92 million. This trend has persisted for over a month, highlighting a shift toward profit-taking among smaller investors.
While these sales are putting some pressure on the market, they remain less significant compared to large-scale transactions made by so-called "whales." The market has yet to see a dramatic price decline, but the ongoing selling activity could indicate caution among investors, who prefer to lock in profits rather than risk potential market volatility.

Divergence as a Potential Risk
The macro momentum for Cardano reveals a more complex picture. The Price DAA Divergence indicator shows that while ADA’s price is rising, market activity isn’t increasing at the same pace. This disconnect is often seen as a bearish signal, suggesting that the rally may be driven more by speculative buying than organic investor interest.
The lack of participation from larger market players raises concerns about the sustainability of the current rally. If this trend continues, ADA’s price could face a correction, potentially undermining its current momentum.

Where is ADA Heading?
This week, ADA’s price increased by 25%, reaching $1.29, its highest level in almost two years. This rise reflects growing optimism among investors, but it also approaches critical resistance levels.
The key challenge lies in surpassing the $1.30 threshold. If Cardano manages to break through and turn this level into support, the rally could continue toward $1.50. Conversely, failure to hold above this barrier could result in a decline to the support level of $1.01, erasing recent gains and jeopardizing the bullish momentum.

Summary and Outlook
Cardano’s future depends on maintaining the psychological level of $1.30. Success at this level could confirm continued growth and strengthen investor confidence. However, failure to hold could signal the end of the current rally and a return to lower price levels. In the coming weeks, investors will closely monitor these critical thresholds.

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Cardano (ADA) is struggling to regain bullish momentum, but analysts suggest a potential rally to $2 if the price breaks above $1.14. Amid a highly volatile crypto market, with Bitcoin hovering around $88,000, Cardano has faced a sharp pullback, dropping 7% overnight and continuing a bearish trend with a 4.08% intraday decline.

Currently trading at $0.8694, ADA risks falling further to $0.73. However, a lower price rejection candle could signal a reversal. Let’s dive into the details.

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### **Cardano Price Faces Resistance at $0.86**
On the daily chart, Cardano is oscillating between the 50% Fibonacci level at $0.62 and the $1.20 supply zone. Despite a 72% surge over the weekend, ADA has shifted to sideways movement, failing to overcome supply pressure near the 78.6% Fibonacci level at $0.9216.

The formation of two consecutive bearish candles and a potential MACD bearish crossover suggest a possible trend reversal. While the average lines are in positive territory, declining histograms and a weakening RSI near the halfway line indicate a loss of bullish momentum, pointing to a potential pullback.

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### **Will Cardano Rebound to $2?**
Fibonacci levels suggest a short-term pullback to the 61.8% level at $0.735. However, similar to Tuesday’s price rejection, ADA could regain bullish momentum as the broader market stabilizes.

Crypto analyst Ali Martinez highlights a bullish pattern forming in Cardano’s price chart—a right-angled descending broadening wedge. This pattern often leads to breakout rallies, with the current overhead resistance at $1.14. A breakout above this level could trigger a high-momentum rally toward $2.

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### **Key Takeaways**
- **Current Price:** $0.8694
- **Support Levels:** $0.735 (61.8% Fibonacci), $0.62 (50% Fibonacci)
- **Resistance Levels:** $1.14 (wedge breakout), $2 (potential target)
- **Technical Indicators:** MACD hints at bearish crossover, RSI shows weakening bullish momentum.

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**Disclaimer:** This content is for informational purposes only and should not be considered financial advice. Conduct your own research before making any investment decisions.

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Stay tuned for more updates on Cardano and other crypto markets! 🚀

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