Cardano transaction volume climbs to 50,000: $3 target price needs to break through key resistance
Recently, the daily transaction volume of the Cardano network has climbed to 50,000, and the market's attention to price trends has increased significantly. Increased trading volume is typically associated with increased on-chain activity, but current prices remain constrained by key resistance levels.
The MACD histogram continues to be positive but gradually shortens, indicating that the bullish force has weakened, while the KDJ indicator is in a neutral range, suggesting that the market momentum has not yet formed a clear direction.
ADA is currently facing a strong resistance range of $0.76 to $0.93. If the price fails to break through this area effectively, it may trigger a short-term correction. At the same time, the Bollinger Bands show that price volatility has narrowed, indicating that the market has entered a consolidation phase and needs to wait for a directional breakthrough.
If the price breaks through the $0.93 resistance level, it may further test the key level of $1.15. If this level is broken, it may lay the foundation for the subsequent impact on the target price of $3.
In addition, the development of the Cardano ecosystem still needs to focus on fundamental factors, including smart contract platform upgrades, the activity of decentralized applications, and institutional capital inflows. Although the increase in trading volume reflects market enthusiasm, the long-term price trend still requires resonance between fundamentals and technical aspects.
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