📈 Cardano ( $ADA ) is regaining momentum, trading at $0.7284 after bouncing from a weekly low of $0.7238. Despite a 9.6% weekly dip, ADA remains up over 18% in the past month, fueled by Midnight sidechain hype and the upcoming Glacier airdrop.
💸 A key bullish signal is the $932M ADA outflow from centralized exchanges—mirroring accumulation patterns seen before ADA’s 2021 run to $3.10. This shift suggests growing investor confidence and decreasing sell pressure.
📊 On the 4-hour chart, ADA is trying to reclaim the 9-period SMA at $0.7338. RSI sits at 44.11, hinting at weakening bearish momentum. A break above $0.75 could confirm a bullish divergence, setting the stage for moves to $0.84 and eventually $1.
🛡️ Key support sits at $0.66, acting as the line in the sand for bulls. A push past $0.75 with volume may ignite the next rally.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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