ADA Breakout Warning! The market is getting hotter, get ready for a staggering increase, and doubling the price is not a dream!

Although the overall sentiment in the crypto market is bullish, Cardano (ADA) is the only mainstream cryptocurrency that has not experienced a significant surge. However, due to Donald Trump's presidential victory, which has changed market sentiment, this dormant cryptocurrency is now poised for a notable rise, breaking through a strong resistance level. If you want to learn more about the crypto world and get the latest news, follow Weibo account "围脖海豚海豚1" for more great articles. Cardano (ADA) Technical Analysis and Upcoming Levels According to experts' technical analysis, ADA has broken out of the strong downward trend line it has faced since April 2024. This breakout occurred after 38 days of price consolidation and is now considered a bullish signal. As of now, ADA is facing resistance from the 200-day Exponential Moving Average (EMA) on the daily timeframe, further indicating a bearish trend. After this breakout, experts believe that ADA is likely to surge 30% to the $0.50 level in the coming days. However, this bullish thesis will only hold if ADA's daily closing price is above $0.40; otherwise, it may fail. ADA Price Analysis The potential reason for this breakout is the price surge and bullish market sentiment. Currently, ADA's trading price is around $0.39, with a 12% price increase in the past 24 hours. During the same period, its trading volume has decreased by 13%, indicating lower participation from traders and investors. On-Chain Indicators Bullish Furthermore, this breakout has also attracted new positions in the past 24 hours. According to data from on-chain analytics firm Coinglass, ADA's open interest has jumped 18% and continues to rise steadily. The increase in open interest indicates growing interest and confidence from traders in ADA and its upcoming price rise. At the same time, ADA's long/short ratio is currently at 1.03, indicating a strong bullish market sentiment among traders. When combining on-chain indicators with technical analysis, it appears that the bulls are currently in control of the asset and may support ADA in the upcoming rebound.