$ADA is showing positive signs for a breakout.

Recently, the price of Cardano (ADA) increased by 37% in July, shifting all major EMAs to an upward trend ¹. The MVRV ratio at 23% indicates there is still room for growth before taking profits. Additionally, the Age Consumed index also reflects investor confidence, as long-term holders are not rushing to sell ¹.

However, the bearish RSI divergence may slow the process. On the 4-hour chart, a bearish divergence has appeared, suggesting that buyers may be slowing down ¹.

Despite this, many analysts remain optimistic about ADA's price potential. Analyst Sssebi predicts that ADA's price could rise from $1 to $5 within a few months, experiencing a steady but strong price increase ².