Surge in ADA netflows might be positive indication
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ADA declined to enter into a consolidation phase in April. With ADA range trading persisting for months, many traders are now looking for signs of a breakout. A strong move above key resistance levels could pave the way for a potential rally, especially if investor sentiment continues to shift in favor of Cardano.For ADA to break out of its current trading range, analysts are watching several important price levels. The daily moving averages 50 and 200 are at $0.354 and $0.
A breakout above the aforementioned key resistance could trigger a fresh wave of buying, especially if the surge in netflows continues.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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