As of January 10, 2025, Cardano ($ADA

) is trading at approximately $0.9612, reflecting a 4.29% increase over the past 24 hours.

Technical Analysis:

Support Levels:

$0.8798 (24h Low)

$my

$0.9165

Resistance Levels:

$0.9740 (24h High)

$0.9788

Trade Signals:

Entry Point: Consider entering a long position near the current price of $0.9612, especially if the price maintains above the $0.9373 support level.

Stop Loss: Set a stop loss below $0.8798 to manage potential downside risk.

Target Levels:

1. Target 1: $1.10 – Aligns with the 1.61 Fibonacci extension, indicating potential for a significant upward move.

2. Target 2: $1.50 – Corresponds to the 2.61 Fibonacci extension, suggesting further bullish momentum.

3. Target 3: $2.50 – Represents an ambitious target based on extended bullish trends, as some analyses suggest the price could reach $2.5-$3.5 in January-February 2025.

Trade Momentum:

Short-Term: Bullish momentum is evident with the recent price increase; however, overbought conditions on indicators like RSI and CCI suggest a potential for short-term consolidation or pullback.

Medium to Long-Term: Analyses indicate a strong bullish trend, with potential targets up to $2.5-$3.5 in the coming months, aligning with Fibonacci extension levels.

Recommendation:

Traders may consider entering a long position near the current price, targeting the levels mentioned above. It's crucial to monitor support and resistance levels and adjust positions accordingly, especially given the overbought signals in shorter timeframes.

#NFPCryptoImpact #DOJBTCAuction #ShareYourTrade #BNBBhutanReserves #AIMarketCapDip