🚀📊 Cardano ( $ADA ) Price Could Soar 30%, But There’s a Catch

📉 Recent Price Movement
ADA has been in a downtrend since early December, dropping over 40% and falling below $1. However, recent momentum shows signs of recovery, with increased attention from traders and investors.

📊 Key Technical Levels
ADA is currently consolidating near a strong resistance level of $0.95. Analysts suggest that if ADA breaks above $1 and closes a daily candle at this level, it could rally by 30% to $1.25. Conversely, failure to break resistance could lead to a drop to $0.85, with further support at $0.72.

📈 RSI and Momentum Signals
The Relative Strength Index (RSI) sits near the oversold area, signaling potential upward momentum in the coming days. This technical indicator suggests room for a significant rebound if market sentiment remains positive.

💼 On-Chain Metrics Show Strength
On-chain data from Coinglass reveals a $98 million outflow of ADA from exchanges in the past week, indicating accumulation by long-term holders. Additionally, open interest surged by 8%, reflecting increased trader participation and bullish sentiment.

📊 Current Price Action
ADA is currently trading at $0.94, up 5.10% in the past 24 hours. Trading volume increased by 18%, highlighting growing market engagement and investor interest.

🌟 Outlook Summary
While ADA shows strong bullish signals, breaking above the $1 resistance remains critical. Traders are watching closely for confirmation of a sustained breakout to unlock ADA’s 30% growth potential.