🎁🎁Cardano Rises and Surpasses $1 Threshold 🎁🎁
Cardano (ADA) price has once again attracted the attention of investors by exceeding the $1 level after a long break. ADA, which has increased by 30% in the last 24 hours, rose to $1.06. With this significant increase, the trading volume also increased by 150%, reaching $6.7 billion. These levels were recorded as the highest level seen since April 2022.
Cryptocurrency analysts state that this increase in ADA's price may be just the beginning and that larger increases may occur. Analyst Ali Martinez predicts that ADA has increased by nearly 200% in the last three weeks and that the price may move further with the involvement of whale investors.
On-chain data also confirms the rise in ADA. Open positions increased by 32% to $889 million, while traders who bet against the ADA price closed their short positions. In the last 24 hours, the closing of short positions totaled $9.77 million. According to Santiment data, ADA's market value increased threefold in three weeks, while investors' daily profit reached $165 million. In addition, posts about ADA on social media reached an 11-month peak, indicating increased community interest.
Experts state that ADA's price has the potential to rise to $6. However, it is emphasized that the $0.80 level should be maintained as a strong support for this rise to be sustainable. Cardano stands out as a promising option for investors with its strong technical and on-chain indicators.
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