Cardano is on the Rise
Cardano is riding the wave of price increases, along with the growth trend of the overall market, moving in tandem with Bitcoin. With ADA attracting attention through network upgrades and increased adoption, there could be even greater price volatility in the future. Data from TapTools shows that more than 78% of Cardano's total supply is currently in circulation, making it one of the most widely distributed cryptocurrencies. Cardano currently ranks second only to Bitcoin in circulating supply among the top ten cryptocurrencies.
Analyst Dan Gambardello has shared that the altcoin market has not really started yet. As more money and liquidity flow in, altcoins like ADA are poised for growth. He stated that currently, Cardano is in a good position with a risk model at 30. Historically, this has been a sign of strong price jumps.
ADA is testing some important levels, such as the 200-week moving average at $0.7832. If it holds above this level, it could be a sign that a bullish market is approaching. Currently, ADA is trading at $0.7957, with an increase of over 10% in the past day. Analyst Ali Martinez predicts that ADA could break towards the $0.80 level, provided it surpasses the upper resistance of the channel shared by Martinez on the 4-hour chart.
Cardano is witnessing an increase in trading, with volume up 101% to $1.7 billion today. If ADA can break the resistance level of $0.85, it could push the price up to $1. Currently, the trend looks good as long as ADA continues to reach higher peaks and the RSI remains strong.
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Source: https://tintucbitcoin.com/du-doan-gia-cardano-ngay-9-5-cap-nhat-xu-huong-moi/
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