Ed undeterred despite Hodler's pressure, and were aiming for 11.
- The #Cardano ed undeterred despite Hodler's pressure, and were aiming for 11.
If it succeeds, FOMO could support a rally backed by many other factors.
Cardano [ADA] has been a great player in this bull cycle, jumping 1% over the past 140 months to an impressive 0.862. This significant price increase has allowed it to enter the top 30 over the past 10 days, outperforming many of its competitors in the market.
As the market shifts in favor of #altcoins and #bitcoin approaches the "high risk" price range, some may interpret cardano's daily gain of nearly 10% as a potential sign of overvaluation, justifying caution for short-term investors.
However, according to AMBCrypto, the ADA1 target is important for #ADA to avoid potential corrections. Reaching this critical psychological level could not only prevent weak-handed selling, but also generate new excitement among new investors.
If the bulls succeed, ADA could set a course that will soon reach new historic highs.
Interestingly, Cardano has made significant progress in this post-election cycle, as evidenced by its impressive triple-digit monthly growth.
It is worth noting that ADA has broken the resistance level of strong0.70 - a barrier that has not been broken for almost 8 months - and this underscores its strong market performance.
Unsurprisingly, Cardano has been one of the main beneficiaries of bitcoin's rapid rise towards 100k, attracting investor interest as an attractive alternative.
As a result, some 0.70k addresses who bought ADA at a price of £41m and owned a total of around 2,000m coins are now generating net gains. 210 This suggests that the cost of their purchase is well below the current market value of the ADA.
In particular, the current price reflects a 22% increase from the level at which these addresses accumulated their stakes.
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