Cardano seems to be joining Ethereum in the altcoin-led weekly bull cycle.
Cardano embraces price discovery above $3 while massively support between $2.81 and $2.8e, as the IOMAP reveals.
Cardano is up nearly 9% and has reclaimed ground above $3. The token is the first among major cryptocurrencies to hit a new all-time high. ADA is on a path to hitting another milestone at $3.5, while investors believe that it is just a matter of time before it rises to $5.
Cardano Once Again In Price Discovery Mode
According to IntoTheBlock’s IOMAP on-chain metric, the newest smart contracts token is back in price discovery after testing support at $ in August. All the addresses that previously bought ADA are in profit.
At the same time, Cardano has no defined resistance as it advances. Hence, a slight push above $3 will quickly bolster the token toward $3.5.
On the downside, ADA sits on top of immense support areas, as observed by the on-chain metric. The region running from $2.81 to $2.84 is the
Źródło: https://coingape.com/cardano-price-analysis-ada-renews-journey-above-3-while-3-5-comes-to-sight/
