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Cardano (ADA) and Fantom (FTM) have been long known for their gigantic financial backup in the crypto market among bullish investors.

Cardano (ADA) and Fantom (FTM) are two cryptocurrencies that have generated substantial interest among investors. Both assets have experienced significant price movements in recent times, and technical analysis can provide valuable insights into their potential price trajectories.

Cardano (ADA) has witnessed remarkable price volatility recently. Over the past six months, ADA’s price has surged by an impressive 189.82%, indicating strong growth. In the last month alone, ADA climbed 56.78%, showcasing sustained upward momentum. However, the past week saw a slight downturn, with the price dipping by 7.11%. At the time of writing, ADA is trading between $0.94 and $1.22.

The nearest resistance level for ADA stands at $1.35, a point where selling pressure might increase. If the price breaks through this level, the next resistance is at $1.636. On the downside, the nearest support level is at $0.78, providing a potential floor if prices decline. A second support level sits at $0.50, which could be crucial in preventing further losses.

Technical indicators present a mixed outlook. The 10-day and 100-day Simple Moving Averages are close, at $1.08 and $1.09, respectively, suggesting a consolidation phase. The Relative Strength Index (RSI) is at 62.08, approaching overbought territory. The Stochastic oscillator reads 84.68, which may indicate the asset is overbought and could face a price correction.

Cardano (ADA) Surges Past $1 In 2023: Where Is The Coin Headed Next?

As we approach the final quarter of 2023, Cardano (ADA) has managed to push past the $1 price point and is currently trading at $1.18, showcasing an increase of 14.08% over the last seven days. This recent price surge follows a period of consolidation and sideways movement for ADA, which began after the asset experienced a downturn from its local high of $1.44, encountered in the early days of September.

Over the past 90 days, ADA has showcased a remarkable price surge of 106.02%, climbing from $0.57 at the beginning of August. This growth was primarily driven by a period of sustained buying pressure and a bullish engulfing candle on the weekly chart, which emerged during the third week of August. The candle signaled a shift in market sentiment and played a pivotal role in propelling ADA’s price upwards.

Cardano (ADA) Price Analysis: Surging Towards $1.35 Resistance Level

Cardano (ADA) price is displaying resilience in the face of market turbulence, having recently breached the $1.10 level and setting sights on the next resistance at $1.35. A breakout from this level could lead to a rally towards $1.636. However, if prices were to decline, support is present at $0.94 and $0.78, which could cushion any potential drops.

The 10-day and 100-day Simple Moving Averages (SMAs) are converging around $1.08, indicating a period of consolidation before the next price movement. Technical indicators such as the Relative Strength Index (RSI) and Stochastic oscillator are also providing valuable insights.

At the time of writing, the RSI is at 62.08, approaching overbought territory, while the Stochastic oscillator reads 84.68, which may indicate that the asset is overbought and could face a price correction. However, these indicators are still within bullish ranges, suggesting that the overall trend remains positive for ADA.

Fresh Update on ADA Price: Surging Past $1 In 2023

Cardano (ADA) price has experienced a notable surge in 2023, capturing the attention of investors and traders alike. Commencing the year at $0.24, ADA embarked on a remarkable journey, encountering several highs and lows along the way. In mid-March, the coin rallied to a local high of $1.38 before encountering a period of consolidation.

This consolidation phase was followed by a downturn, leading ADA to a low of $0.33 in June. From there, the coin began to rally once again, driven by positive market sentiment and anticipation of the Vasil hard fork. This rally propelled ADA to a high of $0.59 in August, setting the stage for further price movements in the coming months.

Investors Eye $3 Target For Fantom (FTM) Post Breakout

As Fantom (FTM) continues to captivate the crypto community with its recent breakout, which has pushed Fantom (FTM) to new trading highs, market analysts have now put forward a new