Cardano’s Breakout: Bulls Target $0.85, But Don’t Get Too Comfortable!
Well, well, well. It seems like Cardano‘s native token, ADA, has decided to stop its long nap. After months of lazily consolidating, it has finally shaken off its slumber and is now sporting a modest 3.75% gain, moving away from its comfy little range of $0.69 to $0.75. March 25, 2025—mark it down, folks, this is the day ADA decided to do something!
Cardano (ADA) Technical Analysis and Upcoming Levels
The technical experts (yes, those mysterious beings) are saying ADA is looking bullish. It’s like a student who finally decided to do their homework—breaching resistance at the 200 Exponential Moving Average (EMA) on the daily chart. Bravo, ADA, bravo.
So, what does this mean for us mere mortals? Well, if ADA can hold above the $0.76 level, experts say there’s a decent chance it could rise by 13% and reach $0.85. That’s right—$0.85, folks! But, if the stars align and market sentiment remains as it is, ADA could climb even higher, potentially soaring 35% to a glorious $1.15. It’s all very dramatic, isn’t it?
ADA Current Price Momentum
As we speak, ADA is trading near $0.762, which is a neat little 4.20% surge in the past 24 hours. It’s like a small victory dance, but with more numbers and fewer confetti cannons. On top of that, trading volume has jumped by 30%, as if everyone suddenly remembered ADA exists after the breakout.
Key Liquidation Levels for Traders
It’s a bullish mood in the market, and traders are apparently betting big on long positions. According to Coinglass, a respected on-chain analytics firm, traders are eagerly hoping ADA won’t dip below $0.72, where they’ve put in a whopping $26 million worth of long positions. A risky game, but hey, who doesn’t love a gamble?
On the flip side, there’s $0.768, where short sellers are nervously holding $6.35 million in positions. The poor souls are sweating it out, because if ADA hits $0.768, their positions could be liquidated faster than you can say “bear market.” Sucks to be them, right?
But, with the current price momentum and bullish sentiment, it seems that the bulls are firmly in charge for now, and could push ADA to even greater heights. Here’s hoping they don’t get distracted by a shiny object along the way.
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2025-03-25 18:53