Cardano (ADA) Price Soars 48% in a Week, Verge of Triggering Major Bullish Technical Flag

The Cardano price soared 48% in the past week following a 6% pump in the last 24 hours to trade at $0.8 as of 4:32 a.m. EST

The price of ADA soared 48% in the past week following a 6% pump in the last 24 hours to trade at $0.8 as of 4:32 a.m. EST

Along with the jump in the ADA price in the last 24 hours, the altcoin also experienced a 32% surge in trading volumes.

Cardano Price Breaks Above The $0.7714 Resistance

4-hour chart for ADA/USD (Source: GeckoTerminal)

The price of ADA formed a second higher low on its 4-hour chart in the last 24 hours. As a result, an ascending trend line has emerged on the crypto’s chart, which gave ADA the technical foundation needed to overcome the $0.7714 resistance. If this positive trend continues, the Cardano price might rise to the next major barrier at $0.8382.

On the other hand, ADA dropping below the trendline in the next 12 hours could bring an end to the altcoin’s bullish momentum. Traders could start to realize their profits in this alternative scenario, which might lead to the Cardano price dropping to the $0.7011 support. An extremely bearish case could see ADA fall to as low as $0.6167.

Cardano Price On The Verge Of Triggering A Major Bullish Technical Flag

Technical indicators on ADA’s 4-hour chart suggest the crypto’s ascent might continue through the course of the next trading day. Not only does the Relative Strength Index (RSI) show positive signs, a major technical flag is also on the verge of being triggered by the Moving Average Convergence Divergence (MACD) on the 4-hour chart.

In the last couple of hours, RSI readings have risen from the low 50s to the mid 60s. Traders usually interpret increasing RSI values as an indication of buyer strength. With the current positive slope of the RSI line and the indicator’s reading above 50, it seems bulls are still growing their strength against their bearish rivals.

Meanwhile, the MACD line is about to cross above the MACD Signal line. If this technical event takes place in the coming few hours, it might suggest that the Cardano price has entered into a positive short-term cycle.

Should these bullish technical signs influence traders’ decision making in the next 24 hours, the Cardano price could keep climbing. This might then lead to the altcoin rising to the aforementioned $0.8382 resistance level.

As traders attempt to push the ADA price higher, investors are rushing to buy an innovative meme coin by the name of Flockerz (FLOCK) for potential 100X gains.

A Governance-Focused Token Aiming To Make Its Mark In The Meme Coin Space

Flockerz (FLOCK) is a unique meme coin project in the fact that it comes with a heavy focus on governance and community.

Although meme coins are known for their lighthearted nature and community backing, Flockerz takes it one step further by placing its future in the hands of its supporters and rewarding them for participating in the project’s governance.

By opting for this approach, Flockerz is poised to keep its community engaged over the long run, which is something even non-meme coin projects struggle to do. What’s more, the project will achieve true decentralization by placing its future in the hands of its community members instead of leaving decisions regarding the project’s direction at the mercy of a few founders.

99Bitcoins, a YouTube channel with more than 706K subscribers, believes FLOCK has the potential to soar 100X after its launch.

High Staking Rewards Are Pulling Investors In

Flockerz has already raised over $2.4 million through its ongoing presale, which suggests a lot of investor confidence in the project at this early stage.

Apart from its decentralization and vote-to-earn mechanism, the high staking APY on offer at the moment could be one of the factors pulling investors in.

Even if everything's burning around you.

You're always okay when you're with the flock! pic.twitter.com/dDeu98Flob

— Flockerz (@FlockerzToken) November 19, 2024

Anyone who buys and stakes FLOCK now will unlock access to a huge 851% Annual Percentage Yield. To start earning these rewards, investors will first need to purchase the meme coin via the widget embedded on the project’s website using either ETH, BNB, USDT or bank card.

Once bought, the tokens will then need to be locked up through the staking page on the website.

Selling for $0.0060772, FLOCK’s price is set to increase as the token’s