ADA Price Skyrockets! 🚀

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It’s a lovely day in the world of cryptocurrency, and by lovely, I mean utterly bewildering. Cardano‘s ADA token has decided to go on a bit of a tear, rising 3% over the past 24 hours to $0.6460. Because, why not? 🤷

According to the boffins at CoinDesk Research, ADA broke through resistance at $0.635 on strong volume, forming an uptrend with higher highs and higher lows. Which, I’m told, is a good thing. 📈

But wait, there’s more! Cardano now has over 1.3 million staking addresses, according to TapTools. Because who doesn’t love a good stake? 🍴 This cements its position as one of the most actively staked networks globally. Yay, Cardano! 🎉

Now, I know what you’re thinking. “What about the whales, Terry?” Ah, yes, the whales. Well, it seems they’ve been doing a bit of selling, with over 270 million ADA flowing out of their wallets in the past week. But don’t worry, market sentiment remains constructive. Because, you know, whales are just big softies at heart. 🐳

Technical Analysis Highlights (or, How to Make Your Eyes Glaze Over)

  • ADA traded between $0.6219 and $0.6502 during the analysis period, marking a 4.55% intraday range. Yay, numbers! 📊
  • The price broke above $0.635 resistance and established support at $0.637, later reaffirmed at $0.648. Because, you know, support is like a warm hug. 🤗
  • Higher lows and steadily increasing volume confirmed a bullish continuation pattern. Or, in other words, “Buy! Buy! Buy!” 📢
  • At 07:15–07:16 GMT, ADA jumped nearly 0.4% on volume exceeding 5.3 million units — the most active minute in the observed period. Because who doesn’t love a good jump? 🦸‍♂️
  • Toward the end of the analysis window, ADA moved from $0.646 to $0.649 before briefly consolidating around $0.646. And then, presumably, everyone went for a nice cup of tea. ☕️
  • The final hourly candle within that timeframe closed with a 0.5% gain, preserving the uptrend structure. Because, you know, candles are important. 🕯️

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2025-06-16 16:32