Cardano's ADA is trading near $0.6819, stabilizing after rebounding from an October low of $0.65. The cryptocurrency is navigating a symmetrical triangle pattern, with resistance at $0.80 and support at $0.63. Despite downward trends in the 20-day and 50-day EMAs, ADA remains above the 200-day EMA at $0.6890. A breakout above $0.75 could propel ADA towards $0.80–$0.84, while a fall below $0.65 might lead to declines towards $0.60.
Cardano is noted for its decentralization, ranking sixth among blockchain networks with over 2,100 validators and $147.4 billion in staked value. Recent on-chain data indicates a $1.03 million net outflow of ADA on October 27, though this is more controlled than earlier in the month, hinting at possible accumulation.
Cardano's ADA Faces Key Resistance Amid $1M Outflow
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.

