Cardano ( ISLAND), as price action moves above the 50-week moving average. be in an uptrenddraws attention.
Decentralized smart contracts platform cardano has left behind a quarter full of ecosystem improvements. The popular project also spent a lot of time on its stablecoin, which will take place in its ecosystem. All cardanoin the midst of development, ISLANDof the price It was seen that it exceeded the 50-week average.
On the ADA side, where whale activities are also buying, the price action Reaching $1 levelsIt was a question of whether he would reach it.
Cardano Moves, Tests ADA Resistance Levels
Ecosystemnotable for its development cardano, with price activity on the ADA side is on the agenda.
cardanoto simplify the development of smart contracts in the Aikenafter its release ISLANDthere was a rise in price. ISLAND, Today Reaching $0.44 levelmanaged to see the highest level in the last 24 hours.
On the ADA side, the daily chart action gives a strong bullish signal while the RSI is trading above 70. This shows that ADA is strong on the buyer side. As a result, ADA is moving in the ascending channel.
According to analysis by CoinGape, the ADA price $0.428 resistance It stands out that it may experience an increase of 40 percent due to its fracture and inverted head and shoulder pattern. This rise is due to ADA’s It can settle it around $0.60.
When viewed from a long-term perspective, if ADA continues to develop ecosystems, it remains in trend. It is thought to have $1 potential.
Key resistance levels for ADA are $0.50, $0.80 and $0.975. Exceeding these levels may bring the $1 level for ADA. On the other hand, ADA is holding $0.40, which is a strong buyer zone at support levels. This support level needs to be maintained for the trend. ADA’s major support is located around $0.30.
