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Gate Square New & Returning Creator Rewards are ongoing!
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Cardano (ADA) recently gained bullish momentum, breaking above a critical resistance zone. Over the past week, its price increased by more than 8%, trading at $0.4848 with a market cap exceeding $17.29 billion, positioning it as the 10th largest cryptocurrency. Despite this rise, over 58% of ADA investors remain unprofitable. However, a bullish flag pattern on the 8-hour chart suggests a potential 100% price surge, potentially pushing ADA to $1. Metrics indicate continued bullish trends, with improved MVRV ratio, high trading volume, and favorable market indicators like the MACD and Chaikin Money Flow. Near-term targets include $0.492, $0.5, and $0.528.
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