Anticipated Cost Fluctuations of Cardano (ADA) in the Upcoming Week
Cardano (ADA) could be headed for 90 cents, but here's the catch – it's a rollercoaster ride!
1. The Tug-o-War Continues
Even if ADA manages to hold on to the $0.64 support, the market's current mood is ambivalent at best. The volume remains stagnant, and the candles are losing their oomph. If ADA wants to test the $0.90 resistance, it'll need a dash of excitement from the buyers.
2. Bulls Won the Last Round
Since ADA made a higher low on the weekly timeframe, the game is looking bullish. This win allows ADA to claim the $0.64 level as a reliable support, although it's like holding a fragile bridge. To keep the party going, ADA needs to pick up speed.
3. Volume – The Invisible Villain
Yes, ADA had a great week. But behind the sheets, the volume is crying foul. The sly little devil is making lower highs – a sign of a potential bearish divergence. If ADA wants to prove its commitment to an uptrend, it better attract some more onlookers to up the volume ante.
Insights:
The ADA market's fortunes are shrouded in uncertainty. While some predict a breakout toward $1.00, others anticipate a slide closer to $0.35–$0.67. A key factor in reaching 90 cents lies in a possible short squeeze or a successful Leios upgrade. Keep an eye on the liquidation levels and upgrade timelines for clues to ADA's future.
4. A Race Against Time
As speculation mounts about the Leios upgrade, the fear of missing out (FOMO) might compel investors to buy ADA, jumpstarting the market. However, the success of this upgrade will tip the scales in the crypto trading world - a successful upgrade could send ADA right up to that $0.90 resistance.
5. A Turn for the Worst
On the gloomy side, should the Leios upgrade fail to impress, we could see cracks appearing. A bearish wave might ensue, slashing the price back to previous levels and bringing uncertainty to the finance sector, especially within the cryptocurrency and technology industries. In such a scenario, investors may find themselves in a losing game of catch-up.
