Cardano (ADA) has gained 144% in the last two weeks$ADA
, is currently trading at $0.793. This rapid rise has brought ADA into the spotlight, with investors eagerly watching to see if it can break above the $0.80 level and start a move towards $1.
According to market analysis, large investors have begun to accumulate ADA intensively. According to IntoTheBlock data, wallet owners holding more than $10 million in ADA have increased their assets by 134.09%. While these large purchases contribute to the rise in the ADA price, the fact that large investors maintain their confidence is also considered a sign of increasing confidence in Cardano in the market.
On the social media side, a positive interaction regarding Cardano is remarkable. According to Santiment’s report, ADA rose to second place in social trends. This social interest motivates investors and has a significant impact on the price.
Technical analysis shows that ADA is approaching a critical level. If it passes the $0.80 level, it is expected to move towards levels such as $0.89 and $0.9871. However, there is also a warning that if this resistance is not overcome, the price could decline to $0.71.
The positive sentiment across the market is providing great support to Cardano. It is reported that long positions on ADA are three times higher than short positions on exchanges. This is an important indicator that supports investors’ confidence in ADA and their bullish expectations in the market.
Cardano (ADA) is gaining strength in terms of social and technical indicators along with the price increases. Although the confidence of large buyers and positive views on social media strengthen the possibility of ADA reaching $ 1, investors are emphasized to be careful.
