With Bitcoin (BTC) jumping above $26,000, altcoins found strength, Cardano (ADA), which had an uptrend, delighted the investor mass.
Cryptocurrencies, which collapsed after large companies announced that they were selling altcoins, started to recover. Most altcoins are up about 10 percent from the level they tested. But Cardano ( ISLAND ), with an increase of 27.27 percent in the last two days, delighting the Cardano ecosystem and investors. ADA, which normally exhibits more stable movements compared to other altcoins, has attracted attention with its accelerated increase.
Cardano (ADA) Technical Analysis
The SEC’s lawsuit against crypto exchanges and the large sale of some altcoins by institutions shook the market. Testing $ 0.219 with this situation, ADA, Cardano experienced both crypto money and ecosystem-based problems. However, after the market turned its course upwards, ADA, which started to increase rapidly, increased by 27 percent in two days and reached $ 0.279.
The resistance levels to follow for ADA are $0.301 – $0.32 – 0.348 and $0.419 respectively. Sellers can be expected to be active for ADA at these points. Failure to lose $0.236 and $0.219 as support levels will determine ADA’s price movements in the short-to-medium term.
