92 adresa Dodajte 4.4B ADA dok Cardano traži više vrijednosti

Analyst Forecasts Higher Highs for ADA Should This Support Hold.

The asset has found support from a demand wall between the $0.365 and $0.376 price ranges.

Cardano (ADA) could have a chance at rallying to higher highs if the demand wall established at the $0.365 to $0.376 price range holds, according to seasoned crypto analyst Ali. The asset failed to recapture its pre-FTX highs during the previous market-wide rally, but this might be its opportunity to have a go at the price territory.

ADA’s support level at the $0.365 to $0.376 range is a result of the cluster of demand observed at the price point, Ali noted in a recent tweet, citing data from IntoTheBlock, a crypto market analytics platform.

# Cardano je formirala ključnu oblast podrške između 0.365 i 0.376 dolara, gde je skoro 92,000 adresa kupilo oko 4.40 milijardi dolara $ ADA.

Sve dok traje ovaj zid potražnje, #ISLAND imat će dobre šanse da dostigne viši nivo. pic.twitter.com/aYnvRot4PO

— Ali (@ali_charts) Januar 29, 2023

IntoTheBlock data reveals that about 91.94K addresses purchased 4.39B ADA within the $0.365 and $0.376 range, at an average price of $0.370. This cluster of demand formed a wall that is serving as crucial support for the asset. Should this wall hold, Ali believes the asset could surge to higher highs.

- Oglas -

In order to sustain the wall, investors in the territory need to hold onto their bags regardless of a price dip. However, a trend of distribution observed among ADA whales from January 21 might be a discouraging factor.

Ali further highlighted this growing trend since Cardano recaptured the $0.38 price point two weeks back. Citing data from Santiment, Ali pointed out that an estimated 31 addresses holding between 1 million and 100 million ADA have sold or redistributed their tokens.

*1,000,000 do 100,000,000

wen edit button? 😅

— Ali (@ali_charts) Januar 30, 2023

ADA Price Movement and DJED Update

Meanwhile, the battle to remain above the $0.38 price level has been fierce, with the bears persistently battering ADA below it since January 21. Notwithstanding, ADA has staged a comeback after each dip. The asset surged to a 2-month high of $0.3991 over the weekend before facing opposition. Notwithstanding the resistance ADA closed Sunday with a massive 4% gain.

Currently changing hands at $0.3894, ADA is looking to reclaim the $0.39 level which should provide enough support to the bulls to take the asset to higher highs. Reclaiming $0.39 would serve as ADA’s launchpad to the first crucial resistance at $0.406. An extended rally could take ADA to the pre-FTX high of $0.435.

Developments within the Cardano community could provide ample support for this rally. Last Friday, World Mobile objavio a partnership with IOG that would see it integrate its blockchain as a Cardano sidechain. ažuriranja on DJED are likely to provide further support. COTI otkrio last Tuesday that it plans to launch DJED this week.

- Oglas -