Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Cardano: Why ADA is focused on $0.80 while expecting a 30% rise
ALTCOIN NEWS

Cardano: Why ADA is focused on $0.80 while expecting a 30% rise

By Crypto FlexsNovember 19, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Cardano: Why ADA is focused on alt=
Share
Facebook Twitter LinkedIn Pinterest Email

avatar

contributor

Posted on: November 19, 2024

  • ADA’s open interest (OI) increased by 6.9%, indicating strong participation from traders.
  • ADA’s on-chain indicators suggested that bulls were dominating the asset.

Amid continued bullish market sentiment, Cardano (ADA) is up nearly 100% over the past few days. Currently, this rally is poised to continue due to the bullish price action pattern.

However, while current market sentiment remains positive, some assets have experienced price corrections while others have recorded notable gains.

Cardano is one asset that will continue its upward trend. Potential reasons for this bullish outlook include current market sentiment, large volume increases, and bullish price action patterns.

Cardano technical analysis and key levels

According to AMBCrypto’s technical analysis, ADA was facing strong resistance near $0.77 at press time and was attempting to break through this hurdle.

Based on recent price action, a further 30% surge is likely if the altcoin breaks above this level and closes the daily candle above $0.80.

Cardano (ADA) Technical AnalysisCardano (ADA) Technical Analysis

Source: TradingView

At the time of this writing, ADA is trading above the 200 exponential moving average (EMA) on the daily time frame, indicating an upward trend.

Meanwhile, the altcoin’s Relative Strength Index (RSI) was in overbought territory, which could suggest a potential price correction or decline.

However, given the current market sentiment, it seems unlikely that ADA will undergo a price correction, although it is possible that the price will hold steady at the resistance level.

Bullish on-chain indicators

In addition to technical analysis, on-chain indicators further supported ADA’s positive outlook.

According to on-chain analytics firm Coinglass, ADA’s open interest (OI) has increased 6.9% in the last four hours and 3.2% in the last hour. A noticeable increase in open interest indicates strong participation by traders.

Additionally, analytics firm IntoTheBlock reported a 12% increase in large volume over the past 24 hours, suggesting intervention by whales and institutions as prices approach critical levels.

ADA large trading volumeADA large trading volume

Source: IntoTheBlock

All these indicators combined suggest that bulls are currently dominating the asset and could support ADA in breaching this strong resistance level.


Realistic or not, here is the ADA market cap in BTC:


At press time, ADA was trading near $0.73 and has recorded gains of over 3.9% in the last 24 hours.

During this period, trading volume decreased by 42%, indicating a decrease in participation from traders and investors compared to the previous day.

Next: VeChain rises 27% in 7 days: Is VET ready for a double breakout?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

InFocus Launches Digital Ventures Strategy With Mythos Group To Push Into Blockchain, AI And Bitcoin

September 1, 2025

WorldShards Announces Partnership With ByBit And TGE Date

September 1, 2025

EcoSync & CarbonCore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3

September 1, 2025

NFT sales in August increased 2.78% in July 2025

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025
Most Popular

Smile Shop joins Conflux PayFi ecosystem with BitUnion prepaid card

December 3, 2024

Comparing smart contracts across different blockchains from Ethereum to Solana

May 28, 2024

Dell Technologies and NVIDIA work together to promote the AI ​​factory as Blackwell.

May 30, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.