Remittix Continues to Entice Newcomers by Raising More Than $13.8M Presale

Remittix continues to entice traders by raising more than $13.8 million presale with 518 million coins trading for $0.0734.

In the ever-shifting landscape of cryptocurrency, optimism brews as Cardano (ADA) hovers on the edge of a potential 350% breakout, provided it manages to stay above the critical support level of $0.38 and capitalizes on upcoming technological upgrades.

A coinmarketcap update following ADA’s support levels reveals that the coin’s ability to maintain above this level means a bull trend could propel it towards the value of $1.40 or beyond. This aligns with the data from the blockchain revealing ongoing support from the community irrespective of short-term pressures.

While Cardano’s developers are working on scalability upgrades like Hydra, others are not pleased with the pace of progress. The silver lining is the fact that bridging fixes and user interface streamlining are imminent, which may widen Cardano’s audience.

A break above the level of $0.45 may signal the start of the multi-month bull trend, which would leave the 350% target within range if the overall market environment is favorable.

Technicians have shown concrete proof ADA can duplicate previous explosive cycles. A symmetrical triangle on the weekly charts generally precedes the gigantic breakouts. A study of ADA chart patterns on Bitstamp says the inability to hold onto $0.34 will leave a spike behind schedule but with buy volumes surging, prices may jump to $1.50 or higher.

Institutional players are also watching for MACD crossovers and oversold readings on the RSI, which is a typical indicator for a robust bounce. Momentum may quickly build if supportive catalysts like successful test launches of DeFi protocols using Cardano are delivered.

ADA’s history of triple-digit bounces after defending major support indicates the coin’s potential for strong upside. Fundamental progress must be supported by technical signals, observers caution.

When will we see Cardano price at $1 again?

Despite the optimism surrounding Cardano's potential for a 350% rally, it's important to note that the technical analysis suggests a final release point for the move is still pending. This aligns with the need for patience as broader crypto prices and market mood will play a role in setting the tone for the final stages of the rally.

"We can see that the inability of the sellers to push the price below the support at $0.34 will leave the spike behind schedule. However, with the volumes on the buys increasing, the price may jump to $1.50 or higher."

"For those who prefer to use technical indicators, we can also see that the MACD is about to crossover in the bullish direction and the RSI is entering oversold territory, which is typically a good time for a robust bounce."

"The combination of these factors suggests that Cardano has the potential for a swift and substantial recovery. This potential is further emphasized by Cardano's history of triple-digit bounces after defending major support levels."

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