ADA (Cardano) perpetual trading this week, here are some key trends and factors to consider:
1. Price Action: Cardano's ADA has been fluctuating around key support levels, with a recent retest at $0.351. Traders have noted a wedge pattern, which might lead to a breakout if momentum builds. Short-term resistance is seen at around $0.3569, and if this level is surpassed, further bullish movement could follow. However, a dip below $0.3370 could signal a bearish trend for the week.
2. Market Sentiment: There's a surge in social media buzz surrounding Cardano, which has historically correlated with positive price action. Transaction volume on the Cardano network has also increased, which could be indicative of growing interest in ADA.
Considering the technical and social signals, this week presents potential opportunities for both long and short positions in ADA perpetual trading, depending on the movement around key support and resistance levels. Always remain cautious, especially in a highly leveraged environment.