- In recent days, the ADA $0.7 level of support has been observed.
- Bulls of ADA are expected to continue their rally past $0.8.
Cardano [ADA] The price of the coin was traded above the demand zone $0.7, and it appeared as if a smaller timeframe range had been formed between $0.7 and $0.887 at time of press.
Technical analysis suggested that bulls would be in for more positive news.
The recent Aktuellen AMBCrypto report It was noted that trading volumes were consistently high throughout March. They exceeded $1 billion several times and crossed the $2 billion threshold on the 5th-6th.
Yet the timeframe of lower duration persisted.
Higher timeframes revealed little resistance from the north
On the lower timeframes, there was a loss of bullish momentum and consolidation. The weekly chart, on the other hand, showed that there was still a long way to go in the rally.
Over the price range of $0.78-$0.86, the zone was considered a strong resistance.
ADA has consolidated below it in the past two week, however the RSI continues to indicate a bullish movement. OBV confirmed that this trend was also in favor of the buyers.
Since November, it has been rising higher. increased buying activity Recent months have seen a rise in the number of people who are using public transport.
The $1, $1.18 and $1.24 were above the $0.8 resistance. next There are some notable resistance levels. The $1.24 resistance level is likely to be reached if the bulls are able to drive the price above $0.86. next.
Assessment of the Magnet Zones for Liquidity
Here’s a list of realistic and not-so-realistic images. ADA’s market cap in BTC’s terms
This heatmap of the liquidation level showed an estimated $553,000,000 worth of liquidations. It would attract the prices and Cardano’s bulls may be able drive the rally to higher levels.
In the South, it is estimated that the levels of $0.65 and 0.66 will each liquidate $250 million. These levels could be tested if prices drop below $0.7.
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Source: ambcrypto.com