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- If the price manages to climb above $0.45 level, then it will likely test $0.50 level.
- At the time of writing, ADA is trading at $0.4307, down 0.46% in the last 24 hours.
Charles Hoskinson, co-founder of Cardano, has proposed a new name—Tasseled Wobblegong—for individuals who have been finding it difficult to remember the names of the several hard forks that have occurred on the Cardano network.
It lives on coral reefs and is a kind of carpet shark. These sharks are renowned for their ability to lay in wait for their prey to pass by, earning them the title of greatest ambush predators.
The Cardano (ADA) token is showing signs of strength on the weekly and monthly charts. Experts in the cryptocurrency market are pointing out some technical signs that might indicate a price increase. Traders and investors must pay close attention to these developments since they occur at a period of change in the cryptocurrency market as a whole.
Bullish Momentum Anticipated
Prior to its latest bullish breakthrough, Cardano (ADA) was trading within a falling wedge formation. The occurrence hinted of a 70% surge for the token, but there are many obstacles that the bulls will have to overcome.
There was a positive pattern to the price movement on the daily chart. Strong rising momentum was noticed by the RSI, while the CMF reported a substantial money influx into the market. However, the price has been consolidating for quite some time now.
At the time of writing, ADA is trading at $0.4307, down 0.46% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 120.54%. If the price manages to climb above $0.45 level, then it will likely test $0.50 resistance level. However, if the price falls below $0.42 level, then it will likely test $0.37 support level.
This content was originally published on The News Crypto
