$ADA Price Analysis ✍️
A whale withdrew $20 million worth of ADA, a positive signal. Cardano's market cap is ~$24.68 billion with 24-hour trading at $540.9 million. The price is supported above the 50-day EMA ($0.6867), and the RSI at 38 suggests potential upward momentum.
Key developments include the Hydra layer-2 scaling solution improving transaction speed, and Mithril reducing wallet sync times. Cardano's DeFi is growing, with Begin Wallet offering 21% APY stablecoin lending.
Despite bullish fundamentals, ADA faces resistance at $1, where a breakout or failure could determine the next price movement.
A confirmed rise above $1 could target $1.05–$1.12, while failure might lead to a drop to $0.6620 or $0.5950.
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