What's up, my lovely people! 👋 Are you ready to hear the latest in the crypto world? Today I bring you a topic that has more than one person on edge: Cardano (ADA)! That coin that is tenth by market capitalization and is around $0.58. But things are getting interesting, so get comfortable!

It turns out that poor ADA has been on a roller coaster 🎢, but going down! Lately, it hasn't managed to go above $0.5, what a tough situation! But be careful, hope is the last thing to lose, right? An analyst who knows a lot, InvestingHaven, shared on X (formerly Twitter) that it seems ADA has already hit bottom. Yes, you heard that right! He posted a chart showing that $0.5 is like an impenetrable wall, a key support that has held it up three times. 🤯 This, my friends, is what they call a 'triple bottom', and that means sellers no longer have as much strength and buyers are ready to put in some money. Hopefully!

This triple bottom pattern is like a signal that things could change, that the price might turn around and start rising like foam! 🚀 If ADA manages to break that barrier of $0.81, they say it could see a tremendous spike by 2025. Can you imagine? But it's not that easy, okay? In the last 24 hours, the price of ADA dropped by 3.5%, so patience is key.

But wait! There's another piece of information that makes us think. Santiment's data, which are really good at analyzing the market, showed that the amount of Cardano people have with profits (that is, they bought it cheap!) skyrocketed to more than 18 billion ADA on June 4th. A lot of money! 🤑 That's almost 2.34 billion more ADA in profits just so far in July. This means more people are making money and that could encourage others to buy. But, like everything in life, there's a 'but': if the price suddenly rises too much, some might sell to secure their profits, and that would put selling pressure! 📉

So, what's up with that $0.65? Is it possible for ADA to get there soon? Right now, as I told you, it's around $0.58, with a market capitalization of $20.6 billion. But the trading volume, that is, how much people are buying and selling, has dropped by 42.3%! That tells us that the market is a bit sluggish. Technical analyses are giving mixed signals, like when you're not sure whether to go to the beach or stay home. The MACD indicator is rising, which is a good sign, but it’s still in negative numbers. And the RSI, another important indicator, is around 47, which means it's struggling to gain upward momentum.

So, if ADA gets its act together and closes the day above $0.5840, we could see that $0.65. But if not, it could drop to $0.5419. We need to be alert! 🚨 Despite all this up and down, July seems to treat Cardano well historically. And to add more fuel to the fire, Cardano's creators, Input Output Global, released a new tool to help developers find bugs! That's good for us, because it makes the network stronger! 💪

So, friends, let's keep an eye on Cardano! Do you think it will reach the $0.65 target or will it fall short? Only time will tell!$ADA