The Cardano $ADA presents technical formations that analysts interpret as indicators of a possible appreciation of up to 30% in the coming weeks.
The price is also positioned near important levels of the Murrey Math Lines, a technical analysis tool developed by T. Henning Murrey. This system divides the price range into eight equal segments (0/8 to 8/8), creating horizontal levels that act as possible support and resistance points. Based on the theory that markets tend to react in multiples of 1/8, the system identifies where price reversals may occur with higher probability.
According to Murrey's methodology, the 0/8 and 8/8 lines represent extreme resistance and support, while the 4/8 line serves as a balance level. The 2/8 and 6/8 lines are considered important reversal points, and the 1/8 and 7/8 lines indicate levels where the price may accelerate or reverse quickly.