- Channel metrics revealed that 72.30% of ADA traders bet on the long side, while 27.72% are on the short side.
- The analysis of Ambcryptto’s graphics suggested that ADA has remained bruised, but was also faced with a slight sale pressure.
After staying in a prolonged downward trend, Cardano (ADA) has become bullish and seems ready for a significant increase rally.
This change in momentum draws the notable attention of traders and experts in cryptography.
Given the current feeling of the market, a well -followed cryptography expert shared an article on X (formerly Twitter), including a 3 -day Adausdt table that shows the asset moving in a descending channel model.
In the position, noted the expert,
“The Cardano ADA could confirm a bullish escape with a sustained closure above $ 0.77.”
TVL de Cardano Monte, an imminent major rally?
In addition to the optimistic vision of the Expert on the rise of the ADA, the total value of Located Cardano (TVL) regularly increases, indicating a renewal in chain activity.
A dex aggregator named Dex Hunter recently shared a post on X, noting that TVL de Cardano curlves up and heads for a new summit of all time.
This TVL increase comes from the recent escape from the descending trend line, which had previously provided a coherent resistance to the price of ADA.
Experts and analysts believe that each time TVL rises, it tends to also increase the price of the asset.
ADA price action and technical analysis
At the time of writing this document, ADA was negotiated nearly $ 0.70 and recorded a sharp increase of more than 6.50% in the last 24 hours.
This impressive price wave after the escape attracted both investors and traders during the same period.
Coinmarketcap data reveal that this increase in participation has led to a 45% increase in the volume of negotiation compared to previous days.
The technical analysis by Ambcrypto indicates that the ADA remains optimistic but is currently faced with a slight sales pressure at the 200 -day exponential mobile average (EMA) on the four -hour table.
This level of resistance coincides with a horizontal resistance zone which should resurface around June 2025.
Historically, the last time ADA has reached this level, it has experienced a decline of more than 10%.
However, the feeling has now changed, while the asset has come out of its prolonged descending trend line and showed a strong upward dynamic during recent sessions.
Source: tradingView
Cardano: bullish and lowering scenarios
Based on recent price action, ADA could earn more than 18.5% if it closes a candle of 4 hours more than $ 0.71, which is potentially going to $ 0.85.
However, the non-depression of $ 0.71 can trigger a movement down approximately 10%, pushing the price to $ 0.62.
Currently, the feeling is tilted towards the Bulls.
According to CorciLass, the long / short binance ratio is 2.61, indicating that traders strongly promote long positions and expect a larger part.
Source: Coringlass
This metric also reveals that 72.30% of the best traders are currently betting on the long side, while 27.72% are on the short side.
Despite the current sales pressure, this data contributes to clarifying that the global feeling of the market remains optimistic.
