Is Cardano Finally Waking Up ?
Since hitting a low of $0.536 in early July, Cardano‘s price has surged 22% to reach $0.696. However, despite this short-term bullish trend, the weekly market remains bearish, with a succession of lower highs and lower lows since December.
On the daily chart, a bullish structure has developed, with increasing highs and lows over the past two weeks. The price is approaching the daily POC at $0.72. If ADA breaks through this level, it will be a strong bullish signal confirming buyers’ renewed strength.
Further continuation will bring it face to face with the resistance at $0.8, another key level to overcome.
A breakout above the 200-day moving average at 0.76 and the major resistance at $0.86 would allow ADA to regain a long-term bullish trend. According to the FBB, the target sits at $2 in the coming months, with a potential peak around $4 in the medium term.
On-Chain Activity Outlook
Despite these positive technical indicators, on-chain metrics indicate a lack of conviction from investors. Cardano’s development activity has been declining since February, which could concern traders. The number of unique transactions and daily active addresses for ADA are also decreasing. Without increased organic demand, a sustainable recovery for Cardano might be challenging.
In anticipation of a bullish movement toward $0.76 to $0.86, traders should closely monitor Bitcoin‘s movement. However, the successful breakthrough of the resistance at $0.68 is a strong sign of technical bullish conviction for Cardano.
Nevertheless, given the broader bearish context, investors should remain cautious and wait for ADA to establish itself beyond this key resistance zone.
To invest in ADA and take advantage of this promising uptrend, here’s a simple guide to acquiring the token on Bitmart :
- Create an account
Go to the official Bitmart website, click “Register,” enter a valid email and secure password, then validate through the link. - Verify your identity
Log in, access “Identity Verification,” submit an ID and proof of address, then wait 15-30 minutes. - Add funds
In “Wallet” > “Deposit,” choose USDT, transfer from a wallet or deposit via card. - Buy ADA
Go to “Spot Markets,” search for ADA/USDT, choose an order, and confirm.
