As a seasoned crypto investor with over half a decade of experience under my belt, I must say that the weekend bull run is always an exciting time. The recent 0.66% increase in Cardano (ADA) within the past 24 hours has caught my eye, and it’s not just because of its striking green bars on the chart.
The weekend has started with bull dominance, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has risen by 0.66% over the last 24 hours.
On an hourly basis, the value of ADA is hovering around the nearby ceiling price of approximately $0.3575. Should buyers successfully maintain control, this could potentially trigger a surge towards the $0.36 region in the near future.
Looking at a broader perspective, it’s essential to focus on the potential closing level around $0.3617. If we close near or above this point, there could be sufficient accumulated energy for growth towards the $0.39-$0.40 range by the end of the month.
As a researcher, I find myself observing a potential bullish closure approaching at the end of this week. Yet, it’s important to note that a swift reversal seems rather improbable given the current lack of sustained bullish momentum.
Such a statement is also confirmed by the falling volume. In this regard, an ongoing consolidation in the area of $0.34-$0.38 is the more likely scenario.
ADA is trading at $0.3573 at press time.
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2024-09-21 18:58