ADA, the native token of the Cardano blockchain, shows bullish signals after a prolonged sideways movement. Current technical indicators and investor support suggest a possible breakout.
ADA Price Technical Analysis
Experts predict a potential increase in ADA based on the 'inverted head-and-shoulders' pattern. If ADA surpasses the $1.07 level, it could surge by 15% to reach $1.23. The RSI indicates room for further gains.
Support from Large Holders
According to Coinglass analytics, investor activity in ADA has increased. Since November 17, 2024, a negative net flow of tokens indicates accumulation by large holders. The long/short ratio stands at 1.10, reflecting bullish sentiment.
Current Market Trends
At the time of writing, ADA is trading at around $1.04, having risen by 2.5% over the past 24 hours despite a 40% drop in trading volume.
Combined analysis of technical indicators and on-chain metrics suggests potential support from bulls and a possible preparation for a new bullish move in the coming days.
