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This could, consequently, trigger a selling pressure as some investors would likely offset their losses. The market-wide uncertainty ahead of the U.S. presidential elections Cardano whales offloaded 160 million ADA, worth $147 million, as uncertainty grows after its inclusion in Trump’s crypto reserve. ADA active addresses dropped to 33,000 In a recent TradingView idea, the analyst asserted that ADA looked set to rally to the $1.5 price point, citing two bullish patterns on the asset’s 4-hour candle chart. For Cardano (ADA) sees increased investor inflows, with long-term holders boosting confidence, signaling potential for a breakout. A breakout from a descending wedge Ali Martinez, a prominent cryptocurrency analyst, remarked, “Cardano will reach $1.50 once the $1.10 resistance breaks,” reinforcing optimism among investors. This Losing these levels could lead to a wave of selling pressure, testing investor confidence and delaying the anticipated breakout. As the market watches closely, Cardano’s After testing the $0.4150 resistance level, Cardano (ADA) faced significant selling pressure, leading to a decline that saw it breach critical support levels, including Santiment, the on-chain metric provider shared an analytical post suggesting Cardano’s selling pressure is now retreating. They shared a chart showcasing that investor Cardano is showing signs of a potential rebound, with key technical indicators suggesting an imminent breakout. ADA looks ready to rebound, as the TD Cardano (ADA) hits a 7-month high with a Golden Cross, signaling bullish momentum. However, rising short-term investor activity may create selling pressure.

Cardano (ADA) to Breach $1.5? Investors Expect Breakout as Selling Pressure Retreats

Is Cardano (ADA) poised to finally break through the $1.5 barrier? Investors are closely watching, with increased inflows and long-term holders demonstrating growing confidence, signaling potential for a breakout. Recent on-chain data suggests selling pressure is retreating, adding fuel to the bullish narrative.

According to Santiment, the on-chain metric provider, investor Cardano is showing signs of a potential rebound. This observation is crucial as ADA struggles to overcome key resistance levels. A breakout from a descending wedge formation could be the catalyst needed to propel ADA towards its target.

Technical analysis supports this optimistic outlook. ADA looks ready to rebound, as the TD Sequential indicator flashes a buy signal. Furthermore, Cardano (ADA) recently hit a 7-month high with a Golden Cross, signaling significant bullish momentum. In a recent TradingView idea, the analyst asserted that ADA looked set to rally to the $1.5 price point, citing two bullish patterns on the asset’s 4-hour candle chart.

Ali Martinez, a prominent cryptocurrency analyst, remarked, “Cardano will reach $1.50 once the $1.10 resistance breaks,” reinforcing optimism among investors. However, challenges remain. Cardano (ADA) faced significant selling pressure, leading to a decline that saw it breach critical support levels after testing the $0.4150 resistance level.

The Selling Pressure Factor: Rising short-term investor activity may create selling pressure. This could, consequently, trigger a selling pressure as some investors would likely offset their losses. Losing these levels could lead to a wave of selling pressure, testing investor confidence and delaying the anticipated breakout.

Adding to the complexity, Cardano whales offloaded 160 million ADA, worth $147 million, as uncertainty grows after its inclusion in Trump’s crypto reserve. ADA active addresses dropped to 33,000, reflecting a potential cooling off of retail interest. The market-wide uncertainty ahead of the U.S. presidential elections further complicates the landscape.

Conclusion: As the market watches closely, Cardano’s trajectory remains uncertain. While technical indicators and analyst predictions point towards a potential breach of $1.5, investors must remain vigilant. Monitoring key support and resistance levels, as well as paying attention to market sentiment and on-chain data, is crucial for navigating the potential volatility. For Cardano (ADA) sees increased investor inflows, with long-term holders boosting confidence. The retreat of selling pressure, as indicated by Santiment, provides a glimmer of hope, but the path to $1.5 won't be without its hurdles. This emphasizes the need for a cautious yet optimistic approach to Cardano investments.

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