#ADA The recent surge of the coin is fierce, with both technical and fundamental factors being favorable, aiming for the key level of $0.68! The current price has broken through $0.6822, with a 24-hour increase of 2%, and trading volume skyrocketing to $547 million, as market sentiment continues to heat up.
From a technical perspective, ADA has recently formed an upward channel, with the support level rising to the range of $0.62-$0.623 and the resistance level around $0.644. Although there has been a short-term pullback, the MACD indicator shows that bullish momentum is still accumulating, and although the KDJ indicator is in the overbought range, there are no obvious signals of a top. More importantly, ADA has already surpassed several moving averages, including MA5, MA10, and MA30, indicating a positive mid-term trend.
On the fundamental side, the Cardano ecosystem has been very active recently. First, a strategic partnership has been established with Brave Wallet, allowing 86 million users to directly use Cardano blockchain functions, which is expected to see explosive growth in the user base. Second, the sidechain Midnight is about to go live, focusing on the concept of 'blockchain stock trading'. If it can successfully attract traditional financial institutions, the application scenarios for ADA will be significantly broadened. Third, the European Union's MiCA legislation is about to be implemented, which will further highlight Cardano's compliance advantages and there is strong anticipation of institutional funds entering the market.
Market data also confirms the strength of ADA. Currently, the market value of ADA is $23.45 billion, with a 24-hour trading volume of $870 million and a volatility of 8.68%, indicating a sustained increase in capital interest. More notably, CoinCodex's latest prediction shows that driven by ecological explosion and institutional funds, ADA is expected to reach the range of $0.96 to $5.33 by the end of the year, representing a potential increase of 50%-700% from the current price.
Under the resonance of multiple favorable factors, ADA breaking through $0.68 is just the beginning. From a technical perspective, $0.68 corresponds to a historical strong resistance level, and once broken, it will open the path to $1; from a fundamental perspective, ecological explosion and compliance dividends will provide continuous upward momentum.
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