The recent price surge of Cardano (ADA) has attracted particular attention from institutional investors, giving investors hope for future gains.
As of November 11, ADA has seen a slight pullback, but on-chain metrics suggest that the bull market momentum may still remain strong.
According to IntoTheBlock data, Cardano’s Average Trading Volume has reached new highs, indicating intense trading activity among large investors. This increase suggests that Cardano has seen an 80% price increase recently, with institutional interest boosting investors’ earnings expectations amid market volatility.
Cardano (ADA) has seen significant price action since November 6. Starting at $0.33, ADA rose to $0.62 just after the US elections. It then pulled back to $0.60, but current data suggests that this decline may be temporary.
According to data from IntoTheBlock, Cardano’s Average Trading Volume has risen to $171,588, indicating major buying, particularly by institutional investors. This metric is often considered a key indicator that signals the start of major market moves.
The Average Investment Period (MDIA) metric plays an important role in understanding the market volatility of ADA tokens. Currently, a decrease in this metric is observed, indicating that ADA tokens are in circulation and increasing investor interest. This indicates a renewed investor participation in Cardano.
Inflow/Outflow by Price (IOMAP) analysis reveals that Cardano has a strong support level at $0.59, where approximately 87,950 addresses have accumulated a total of 1.79 billion ADA tokens. This accumulation suggests a strong buy zone and the potential for ADA to retest the $0.70 resistance level is increasing.
According to technical analysis, ADA recently managed to break out of a bearish triangle on the weekly charts. This signals a potential momentum shift and is a signal that the price could continue to rise. If the current trend continues, Cardano could be expected to rise to $1.34 by 2025.
Cardano is in a strong uptrend driven by institutional interest and increasing investor participation. Price holding above support levels could increase potential future gains. Market dynamics and technical analysis suggest that Cardano’s price could rise further in the near term.