Cardano ADA recovery: price 18%, resistance $0.85
Cardano (ADA) rebounded 18% to surpass USD 0.77 Can it turn USD 0.85 resistance into support and continue its bullish trend
The #Cardano price rebounded after a significant correction, rising 18% in the last 24 hours. This recovery indicates the persistence of the bullish pattern formed by #ADA and gives #optimism for future price movements. After several difficult weeks, Cardano’s momentum recovery against ADA #USDT gives hope for a short-term upward trajectory and positive price momentum. Gives hope for momentum. Over the past month, Cardano investors have suffered heavy losses as prices continued to fall. Many trades have resulted in losses and the market has been unable to sustain a significant bullish move. However, the recent increase in profitable trades is a positive sign that market sentiment may be changing. As the price of ADA has risen from recent lows, the volume of profitable trades has also increased, indicating that investors are beginning to recoup previous losses. This shift towards profit over loss suggests growing stability and support for the altcoin, which could pave the way for the price to rise further. Cardano’s funding ratio has fluctuated over the past two weeks, but is now showing signs of improvement. There was bullish momentum in early February However, the funding ratio has now returned to positive territory, suggesting a possible change in market sentiment. The Funding Rate is a mechanism that balances long and short positions in the open futures market. A positive value indicates that long positions are prevailing and the contract price is higher than the spot price. This means that more traders are betting on rising prices, buying ADA in the hope of reselling it at higher prices and agreeing to pay a premium to maintain long positions. ADA Outlook: Will prices leave the $0.85 support level? During the last 24 hours, the price of Cardano has grown by 18%, successfully overcoming the resistance level of $ 0.77. turning $ 0. Read us at: Compass Investments #CompassInvestments