Cardano (ADA) survived a significant increase in prices, rallying 60% after six weeks for six weeks.
The recent announcement of the Crypto -Reverse of US President Donald Trump, which includes Cardano, acted as a key catalyst for this price movement, for the first time in a month, repulsing the ADA above the level of 1 dollar.
Cardano investors restore their losses
The indicator of long/short differences of MVRV shows significant growth, which suggests that the border of the profit of long -term holders (LPIS) has grown. LTH, as a rule, act as the basis for stability of cryptocurrency prices. When LTH is profitable and selected, and not sold, this prevents price drop and instead supports price raising.
This behavior corresponds to a recent increase in price, since long -term holders prefer to hold ADA, strengthening the bull impulse.
Increased profit LTH means the strong confidence of investors to the long -term prospects of the asset. This, in turn, suggests that the rally can be more than just a short -term price movement, but rather the beginning of a more stable upward trend.
The relative force (RSI) index for Kardano entered the overlap zone, which is traditionally a bear sign indicating potential changes in prices. Nevertheless, historical data about the ADA show that growth in the rejuvenation zone often signaling the continuation of the upward impulse, and not about the change. This suggests that, despite the displacement indication, Cardano could still continue his rally.
Considering that the previous cases when RSI entered the territory of the overwhelmed, led to an increase in prices for the ADA, the current script indicates that Cardano may continue to grow. This impulse, if it is resistant, can lead the ADA to further maximums, despite the typical bear nature of the conditions of bite.
Ada price is rallying
At the time of writing, the price of Cardano increased by 60%, bargaining by $ 1.06. This marks a significant recovery after Altcoin fought below the $ 1 mark for six weeks. Raising prices is a direct result of the market for the ads of Trump: ADA makes a strong impetus above $ 1. This level is crucial, since it marks the psychological threshold for both traders and investors.
The breakthrough above the barrier for 1 dollar is a sign that the ADA can prepare for further rallies. In order for Cardano to support his ascending impulse, he needs to provide $ 1.00 as a reliable level of support. The inability to keep this level can lead to loss of impulse and return to lower prices.
If Cardano cannot maintain support for $ 1.00, it can return to the next level of key support of $ 0.85. This will deprive the ongoing of the current bull prospect and will push away the potential recovery. Nevertheless, maintaining support at the level of $ 1.00 will strengthen the rally and lay the way for further prices.
