Is Cardano Set for $2.0, or Will Bears Drag It Back to $0.30? Top DOGE Competitor Demonstrates 34x Rally Potential, And It’s Not Pepe Coin
The post Is Cardano Set for $2.0, or Will Bears Drag It Back to $0.30? Top DOGE Competitor Demonstrates 34x Rally Potential, And It’s Not Pepe Coin appeared on BitcoinEthereumNews.com.
Cardano (ADA) is trading at $0.61, dropping 11.08% in 24 hours as traders monitor its next move. The cryptocurrency is now testing resistance near $0.63, forming an ascending triangle pattern signaling potential upward momentum. Network activity shows increased engagement, with active addresses rising alongside price movements. If buying pressure holds, technical indicators hint at a possible push toward $0.90 or even $1.00. Yet bears linger, with support levels at $0.5350 and $0.5150 acting as critical safety nets. Meanwhile, Mutuum Finance (MUTM), a new decentralized finance project, has caught investor attention during its recently launched presale. Currently priced at $0.015 during the second phase of this presale, the token has raised $1,424,320.08 from 2,790 holders. This is despite only launching recently, With a launch target of $0.06 after 11 phases, investors buying today could secure 300% returns. Cardano’s Bullish Signals Face Market Uncertainty Cardano’s recent price action reflects cautious optimism. Open Interest has risen 2.09%, and the long-short ratio sits at a neutral 0.92, indicating balanced trader sentiment. On-chain metrics reveal a 68.09% bid-ask volume ratio, suggesting accumulation by strategic investors. Hourly charts show active addresses climbing with price gains, reinforcing the idea of organic growth. The ascending triangle pattern points to $0.63 as a decisive resistance level. A breakout could propel ADA toward $0.80, but failure risks a retreat to $0.5350. The 200-day EMA at $0.7301 provides long-term support, yet volatility remains a concern. Selling pressure near $0.720 highlights lingering skepticism, leaving ADA’s trajectory uncertain. Mutuum Finance Gains Momentum as Presale Advances Mutuum Finance (MUTM) is rapidly progressing through its presale stages, attracting investors seeking early access to a decentralized lending platform. The project’s structured ecosystem includes peer-to-contract and peer-to-peer markets, allowing users to lend assets for passive income or borrow against collateral without liquidating holdings. A forthcoming overcollateralized stablecoin…
Filed under: News - @ February 27, 2025 5:21 am