Cardano’s Price Takes a Joyride: Will It Hit the Moon? 🚀

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As the week draws to a close, it appears that the cryptocurrency cosmos has decided to don its party hat, with most coins strutting about in a bullish manner, as reported by the ever-reliable CoinStats. 🎉

ADA/USD

In a delightful twist of fate, the price of Cardano (ADA) has experienced a rather sprightly rise of 2.48% over the past 24 hours. One can only imagine the jubilant celebrations in the Cardano camp! 🥳

Now, if we cast our eyes upon the hourly chart, we see that ADA has gallantly breached the local resistance of $0.6761. However, it seems that most of the Average True Range (ATR) has been consumed, which suggests that any dramatic pirouettes are rather unlikely to occur before the day bids us adieu. 💤

Looking at the grander scheme of things, ADA is making its way towards the resistance level of $0.8309. Should a breakout occur, and the bar closes without a long wick (which sounds like a rather unfortunate hairstyle), one might anticipate a breakout followed by a test of the $0.85-$0.90 territory. 🧐

From a midterm perspective, our dear ADA is valiantly breaking through the significant level of $0.8309. If the buyers can maintain their newfound momentum, we may very well see an upward jaunt to the $0.90 mark. Fingers crossed! 🤞

As of this very moment, ADA is trading at a respectable $0.8438. Let us hope it continues to dance its way upwards! 💃

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2025-03-02 20:21