The Cardano price has soared 9% in the last 24 hours to trade at $1.06 as of 7:05 a.m. EST on a 10% drop in trading volume to $2.1 billion.
Cardano Price Continues The Uptrend Within The Bullish Channel
The ADA/USD pair is in a strong uptrend, trading at $1.06363. The price has moved within a well-defined ascending channel, highlighting consistent bullish momentum.
A previous high of $1.33226 serves as a key resistance level, while immediate support is provided by the 50-period Moving Average (SMA) at $0.9819. The 200-period SMA, positioned at $0.6193, is a long-term support, confirming the overall bullish sentiment.
Earlier in the chart, the price was consolidated around $0.75, establishing a base for the subsequent uptrend. This was followed by a parabolic curve, indicating a surge in buying pressure. Recently, the price rebounded from the lower boundary of the bullish channel, maintaining its upward trajectory.
ADAUSD Analysis Source: Dextools.io
The 50-period Simple Moving Averages (SMA) above the 200-period SMA, signaling sustained bullish momentum.
Cardano Price Technicals Indicate Further Uptrend
The Moving Average Convergence Divergence (MACD) indicator currently reflects a positive divergence, underscoring the strengthening bullish momentum in the market. The MACD line, at 0.0209, is positioned above the signal line at 0.0146, a clear bullish signal that suggests buying pressure is dominating. Additionally, the histogram displays progressively larger bullish bars, further confirming the upward momentum.
Simultaneously, the Relative Strength Index (RSI) is holding steady at 64.62, which signifies strong buying momentum. Although the RSI is nearing the overbought zone (above 70), it remains below critical levels, suggesting there is still room for additional upside movement for Cardano price before reaching exhaustion.
If the bullish momentum persists, Cardano (ADA) could attempt to retest the critical resistance level at $1.33226, a price point that previously acted as a ceiling for upward movement. Breaking above this resistance could pave the way for further gains, potentially targeting higher levels
On the downside, a failure to maintain momentum may lead to a break below the 50-period Moving Average (MA) at $0.9819.
Such a move could initiate a correction, with the price potentially falling to the next significant support at $0.80. In a more bearish scenario, ADA could even test the 200-period MA at $0.6193, which serves as a long-term support level and a critical zone for buyers to defend.
Pepe Unchained Soars Toward $60 Million – CEX Listings Incoming
Meanwhile, as Cardano price continues its bullish surge, the Pepe Unchained (PEPU) presale has blasted past $58.4 million in funds raised in its presale. There are now less than 14 days left until the presale, one of the most successful ever, ends.
According to an analyst from 99Bitcoins, a popular crypto-focused YouTube channel with over 706K subscribers, PEPU has the potential to skyrocket by 100X upon launch.
Pepe Unchained is here to free the original Pepe from its clunky home on Ethereum, which labors with slow transactions fees and frequent delays, all while charging high fees.
PEPU comes with its own Layer 2 blockchain to give Pepe a new home. It will offer lightning fast transaction speeds and much lower prices.
Anticipation continues to grow after the project team announced plans for major exchange listings, fueling speculation about potential listings on Binance, Coinbase, or both.
Throwback Thursday pic of Pepe working on his first Giga Brain experiment. You've got to start somewhere! 🧠🐸 pic.twitter.com/fCaBQho37f
— Pepe Unchained (@pepe_unchained) November 28, 2024
With the official launch scheduled for around December 13, investors have less than 14 days left to participate in this groundbreaking presale.
PEPU tokens are available for $0.01295 each and can be staked for an attractive annual percentage yield of 59%.
To join the presale, visit the official website and buy PEPU tokens using ETH, USDT, or a bank card.
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