cardano’s Bullish Future: A Closer Look
Cardano (ADA) is showing signs of a potential bullish breakout. Despite a recent 50% drop from its November peak, some data suggests a strong rebound could be on the horizon.
Santiment’s Mean Dollar Invested Age (MDIA) indicator has been rising. The 180-day MDIA is now at 10.68, up from -3.2 in February.The 2-year MDIA has also climbed to 103, up from a low of 94. This indicator tracks the average age of invested dollars. A rising MDIA frequently enough signals a positive trend, as it shows older wallets are less likely to sell. This is good news for ADA.
Cardano, like other cryptos, has faced a decline due to profit-taking and tariff fears. however, the MDIA’s upward trend is a hopeful sign. It means long-term holders are less likely to sell. Historically, this has led to major price rebounds.
- 180-day MDIA: 10.68
- 2-year MDIA: 103
Technically, ADA has been in a slow downtrend. It fell from $1.328 to $0.70, forming lower lows and highs. A bearish pennant pattern suggests a drop to $0.555 before a possible uptrend.
On the daily chart, a falling broadening wedge pattern is forming.This usually leads to a strong bullish move. If the bearish pennant triggers a drop, it may then rise to $1, and eventually, back to $1.32,up 90% from current levels.
for more insights, check the Santiment data shows promise. A rebound could push ADA to $1, then to last year’s high of $1.32. This pattern ofen precedes a bullish breakout. If this happens, it could signal a important price increase.
Stay tuned for ADA’s next move. The coin’s price could surge, making it an interesting watch for investors.
