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<p>The post <a href="https://coinpedia.org/news/cardano-price-set-to-skyrocket-amid-strong-investor-confidence-in-ada/">Cardano Price Set To Skyrocket, Amid Strong Investor Confidence In ADA&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Cardano (ADA), with a market cap of $14.8 billion, has recently surged showing signs of a potential recovery after finding strong support at $0.3800. It has surpassed key resistance levels of $0.4150, outpacing Bitcoin and Ethereum.&nbsp;</p> 
<p>Despite <a href="https://markets.coinpedia.org/cardano/">hitting a high of $0.4225</a>, ADA is currently consolidating its gains. However, what’s catching attention isn’t just ADA’s price action, but also the steadfast confidence of its investors amid market fluctuations.</p> 
<h2 class="wp-block-heading" id="h-investor-confidence-holds-strong">Investor Confidence Holds Strong</h2> 
<p>Despite facing downward trends in June, ADA investors have remained strong in their holdings. The Mean Coin Age, a metric indicating the average duration coins are held, has consistently risen.&nbsp;</p> 
<p>This increase suggests that investors are holding onto their <a href="https://coinpedia.org/news/top-crypto-trader-predict-cardano-ada-price-set-to-skyrocket-to-0-7/">ADA for longer periods</a>, indicating strong confidence in the cryptocurrency’s future performance. This extended holding pattern could potentially lead to substantial profits for investors.&nbsp;</p> 
<p>The rise in Mean Coin Age highlights investors’ strong confidence in ADA’s prospects, despite market volatility. According to the Global In/Out of the Money (GIOM) metric, ADA faces potential losses on approximately 1.7 billion ADA purchased between $0.39 and $0.42, totaling $683 million.&nbsp;</p> 
<p>If ADA’s price continues to rise, this supply could turn profitable, potentially attracting more investors and bolstering ADA’s resilience in a bearish market.</p> 
<h2 class="wp-block-heading" id="h-cardano-price-to-reach-0-50">Cardano Price To Reach $0.50</h2> 
<p>If the price goes up again, it might face resistance around the $0.420 area. The first hurdle is at $0.4225 and the next important resistance could be around $0.4450.&nbsp;</p> 
<p>If the price manages to close above $0.4450, it could start a strong upward movement. Meanwhile, in that scenario, the price could rise towards the $0.4850 level. Further gains might even <a href="https://coinpedia.org/price-analysis/cardano-trying-to-rise-above-bearish-captivity-ada-price-may-secure-0-5-if-this-trade-plays-out-well/">push it towards $0.50</a>.</p> 
<h2 class="wp-block-heading" id="h-is-correction-looms-ahead-for-ada">Is Correction Looms Ahead For ADA</h2> 
<p>Looking ahead, if ADA fails to breach the $0.4225 resistance level, it may face further downside. Meanwhile, instant <a href="https://coinpedia.org/news/cardano-price-technical-pattern-repeating-10-times-signals-a-bullish-move-to-the-moon/">support is expected around</a> $0.4120, followed by major support near $0.4080 and the second trend line. A drop below $0.4080 could lead to a test of $0.400, with additional support near $0.3880.</p> 
<p>As of now, ADA is trading at $0.4138 reflecting a surge of 1.5% seen in the last 24 hours with a market cap of $14.8 billion.&nbsp;</p>

Cardano Price Set To Skyrocket, Amid Strong Investor Confidence In ADA

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