Related Reading: MicroStrategy’s Bitcoin Stash Exceeds 250,000 BTC Following Half-Billion Dollar Acquisition Looking ahead, Trend Rider believes ADA is poised to test a resistance level at $0.400, which would represent a 13% increase from its current trading price. Such a move could pave the way for further upward momentum, potentially pushing Cardano toward long-term resistance levels of $0.460 and $0.480.
Currently, a critical support level is situated at $0.3445, which has provided stability for the token over the past week, essential for maintaining potential upward momentum in the coming days.Should the $0.3445 support be breached, the next significant target to monitor is the $0.3296 region, which represents this week’s lower price point for ADA.
Trend Rider, a technical analyst, has highlighted a significant development on ADA’s one-week chart: the ADA Oscillator Wave has turned green for the first time in 46 weeks. This indicator suggests a potential bullish reversal, prompting Trend Rider to personally invest in ADA at its current price.
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