Cardano increased by 10%.. ADA is awaiting a new penetration

Cardano (ADA) has achieved a 10% increase during the past week, which made it in a strong position to continue this upscale momentum, as the currency is now approaching an important technical level, which is the average Si -20 -day movement (EMA), which can be a confirmation point for a new start towards higher levels.

ADA is approaching a decisive penetration area with an escalation of purchasing pressure

Currently, ADA is trading near its average Si for 20 days, a technical indicator that depends on the average price of the original during the last 20 trading day, while giving more weight to modern prices, and this average exceeds a sign of a transformation in the momentum from the descending direction to the upward, which indicates that the pressures of purchase are increasing, and confirms that the currency has already entered in an upward direction.

A successful penetration of this average will be a dynamic support point, giving buyers more control of price movement and enhances the chances of continuing to rise.

Network data supports positive outlook

On the other hand, data from “Santimment” indicate that the profit and loss index achieved on the Kardano network (NPL) has turned to the negative area, and this means that most Ada holders are currently trading with losses, which usually reduces the pressure pressure, as investors tend to keep their assets for a longer period in such cases, which reduces the supply in the market and supports high prices.

Indicators enhance the superiority of buyers

On the daily chart of ADA/USD, the Chaikin Money Flow (CMF) supports the upward trend, where it currently records a positive reading of 0.04, indicating that the flows of money out exceeding the output, and this behavior reflects the investors ’orientation towards buying and collecting instead of selling, an additional factor that supports the price height.

In the event that this momentum continues, Cardano can continue to rise and reach a level of $ 0.70, which is a possible goal if buyers maintain their control, but in the event of the return of profits, the currency may decline to the level of $ 0.55.