Cardano (ADA) Hints at Reversal After 193% Monthly Surge

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• ADA’s Bullish Momentum Weakens: Cardano (ADA) surged 193.65% in 30 days but shows signs of slowing, with the ADX dropping to 45 from over 60.

• Whale Accumulation Stabilizes: Whale wallets holding 10M-100M ADA have plateaued, indicating neutral to bullish sentiment without fresh catalysts.

• Critical Levels Ahead: Resistance at $1.16 could push ADA to its highest since 2021, while bearish pressure may lead to a 48% correction at $0.519.

ADA Price Prediction: Highest Price Since 2021 Or a Strong Correction?

Cardano EMA lines continue to reflect a bullish setup, with short-term lines positioned above long-term ones. However, the current price is no longer significantly above the short-term EMA lines, indicating that the bullish momentum has weakened.

This proximity suggests that the uptrend is losing strength, and the ADA price is approaching a critical point where it could either rebound or dip below these lines, signaling a potential trend shift.

If the uptrend regains strength, ADA price could test levels above $1.155, potentially reaching $1.16, its highest price since March 2021. However, as indicated by the declining ADX, the current uptrend is losing intensity, increasing the likelihood of a reversal.

Should the trend turn bearish, ADA’s closest support lies at $0.519, which would represent a significant 48% correction from current levels.

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