Cardano (ADA) is experiencing a surge in buying pressure, indicating a change in market sentiment. The altcoin has surpassed the Leading Span B of its Ichimoku Cloud, signaling a potential bullish trend. The increase in Cardano’s On-Balance-Volume (OBV) further confirms growing demand for the altcoin. With the rise in Cardano’s holding time and a breakout above the Leading Span A, the altcoin could target resistance levels at $0.39 and $0.47. If successful, ADA may soar by 68% and reach its 2024 peak of $0.81. However, if selling pressure intensifies, Cardano could struggle to maintain support and retrace recent gains, potentially dropping to $0.31 or even $0.27 by year-end.
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Cardano (ADA) Bulls Ignite Momentum to Recapture 2024 Highs
