Cardano (Ada) price is preparing to rise with strong investor support and increasing money flows. Technical indicators show that crypto money has reached an important breaking point, while long -term investors avoid sales may support the price of the island.
Strong support from Cardano investors
The latest data show that the island owners maintain their long -term investor (LTH) status and avoid selling their assets. Mean Coin Age Metric shows that long -term investors hold their islands in their hands and pave the way for the rise of decreasing sales pressure in the market.
This trend reinforces the confidence of Cardano investors in the project. If sales continue to remain low, the supply of the island will decrease, which can create upward pressure on the price. In addition, the harsh rise of the Chaikin Money Flow (CMF) indicator shows that investor interest and procurement pressure increases.
Technical indicators point to the bull season for the island
Cardano’s current price movement increases the likelihood of a strong rally by exiting the falling wedge formation. This formation can usually trigger a 26 %rise and carry the price to $ 0.99.
However, in order to realize this rise, the island must exceed $ 0.85 and convert it to the support point. If this resistance is broken and approved as support, the island can be opened to rise to $ 0.99.
Can the price see $ 1?
It is critical to maintain the support level of $ 0.77 to maintain the rise of the island. If this level cannot be maintained, the price may decrease to $ 0.70 again. Such a decrease may weaken the existing bull expectations and may lead to investors to increase the expected breaking to a further date.
However, the general trend of the market and the investor psychology continue to draw a positive picture for the island. Recently increasing trading volume and in-chain data show that investors purchase from the bottom levels. If the bulls manage to break the level of $ 0.85, this may trigger the FOMO (fear of kidnapping) and cause the price to rise rapidly. In addition, new projects in the Cardano ecosystem, defi applications and the increase in the use of smart contract may strengthen the demand for the long term.
