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Cardano (ADA) Strong Support Zone at $0.60 Sets Up $1.20 Target

  • Cardano's ADA is currently within a crucial long-term support zone between $0.60 and $0.40, historically favored by institutional investors for accumulation.
  • ADA is positioned in a long-term ascending channel, indicating a bullish trajectory with higher lows and higher highs over the years.
  • The next significant resistance level for ADA is between $1 and $1.20, a breakout above which could trigger a substantial rally towards $5-$10.
  • The accumulation zone at $0.60-$0.40 reflects smart money interest, with investors likely to find an appealing entry point based on prior market behavior.

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