Cardano (Ada) exhibits a movement that excites its investors. The island, which has followed a wavy course in recent weeks, is preparing to overcome critical resistance levels. The positive atmosphere and increasing investor confidence in the market strengthen the rise potential of the island.
CARDANO investors rely on the bull market
Despite the volatility in the crypto money market, Cardano’s funding rate continues to remain in the positive area. This shows that long positions dominate the market and that investors believe in the rise of the island. The positive funding rate reveals that traders are expecting price increase and the market is generally optimistic.
Market sensitivity, which has been wavy for several weeks, points to the rise thanks to this trend in the funding rate. The increase in long positions compared to short positions shows that investors expect the island price to break up in the coming period.
Technical indicators give a rise signal for the island
Cardano’s technical appearance also gives positive signals. The relative power index (RSI) is currently close to 50 levels and is preparing to enter the ascension zone. The RSI’s exceeding 50 level indicates that the procurement pressure has increased, which can support the upward movement of the island.
If the RSI settles over 50, it will be an important indicator that this rise trend can be strengthened. Technical analyzes indicate that the current price movements of the island are part of a recovery process and that there may be a strong outbreak in the near future.
Island is on the way to 1 dollar! What are the critical levels?
Cardano currently creates a breast -oriented wedge formation. If this formation works, the island can reach $ 0.99 with a 26 %rise. However, in order to realize this scenario, the level of $ 0.85 must be approved as a strong support. If the island converts $ 0.85 into support level, the price is expected to rise up to $ 0.99 rapidly. This breakage may allow Cardano to compensate for the losses experienced in February. In addition, exceeding the level of $ 0.99 may increase the trust of investor by making it possible to test $ 1.00.
However, if the island does not break the level of $ 0.85 and loses the momentum, the price may decline to $ 0.77 and then to $ 0.70. This scenario may invalidate the expectations of rise and delay the recovery process. According to the data we follow as kriptokoin.com, the next days will be quite critical for island investors. If he gets market support, we can see new summits for Cardano!
