Summary
TLDR: Cardano (ADA) has reached its highest price in 22 months, showing a 53.71% growth in the last month. Despite this, it is still 75% down from its all-time high. The In/Out of the Money Around Price chart suggests strong support at $0.75, but potential resistance at $0.89. ADA needs to break above $0.785 to sustain growth and could soon hit $0.80 if bullish sentiment continues. Investors should monitor support and resistance levels closely for insights into future price action.
Key Points
1. Cardano (ADA) has recently reached its highest price in 22 months, with a current trading price of $0.780, signaling a 10% rise and a significant recovery from its cycle low of $0.238.
2. Despite the recent price growth, ADA is still significantly below its all-time high of $3.10, indicating potential room for growth in the coming months.
3. The In/Out of the Money Around Price (IOMAP) chart shows strong support for ADA at $0.75, with a large number of addresses holding ADA at a profit in the $0.66 to $0.78 range, potentially leading to stability or upward momentum in price.