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The Cardano price has surged 17% in the last 24 hours to trade at $1.28 as of 7:05 a.m. EST on a 54% pump in trading volume to $6.2 billion.

Cardano Price Rebounds Within The Bullish Channel

The ADA/USD trading pair in the 4-hour timeframe shows a strong bullish trend, moving consistently within a well-defined ascending channel. The price initially consolidated below $0.80, signaling accumulation by market participants and setting the stage for a breakout fueled by growing buying pressure.

A pivotal moving average crossover occurred as the 50-period SMA (blue) moved above the 200-period SMA (green), forming a golden cross and confirming the onset of a sustained uptrend. These moving averages now provide dynamic support, stabilizing the price action.

ADAUSD Analysis Source: Dextools.io

The price has continued rising within the ascending channel, making higher highs and lowers. Currently trading at $1.28 near the channel’s upper boundary, a breakout above this level could open the door to further gains. At the same time, a rejection might trigger a pullback to lower support levels.

Since mid-November, the price has followed a parabolic trajectory, reflecting accelerating bullish momentum and pushing it closer to the channel’s upper limits. After testing support near $1.05, the price rebounded sharply, establishing this level as a strong buyer zone.

Cardano Price Faces Overbought Signals, Eyes Key Resistance At $1.46

However, the Relative Strength Index (RSI) at 73.72 suggests the market is overbought, indicating potential for a short-term correction or consolidation.

The MACD remains bullish, with the MACD line above the signal line, but the histogram shows tapering momentum, hinting at a possible slowdown.

Despite signs of potential short-term overextension, the broader trend remains firmly bullish, bolstered by the channel structure, parabolic momentum, and supportive moving averages.

The next major resistance level is at $1.4695, with a breakout likely signaling continued bullish momentum.

On the downside, support levels to monitor include $1.05, which aligns with the 50-period SMA, and $0.71, which is near the 200-period SMA.

Flockerz Presale Heads Toward $5 Million – Next Crypto To Explode?

Meanwhile, investors are flocking to acquire the Vote-to-Earn (V2E) meme coin Flockerz (FLOCK), which has just zoomed past $4.2 million in its presale.

The 99Bitcoins YouTube channel, boasting over 711k subscribers, suggests that $FLOCK could become the next 100x meme coin following its launch.

Branding itself as “The People’s Meme Coin,” Flockerz aims to cultivate a loyal and engaged community. Its goal is to help its members earn rewards while fostering long-term engagement, particularly in its governance processes.

To achieve this, Flockerz has introduced an innovative V2E model, which rewards token holders with FLOCK tokens for voting on proposals and participating in key decisions. This empowers its community and keeps members actively involved in shaping the project’s future.

POV: When the newest member of the flock gets their first big win 🤑 pic.twitter.com/ctFQnAaBBw
— Flockerz (@FlockerzToken) November 30, 2024

In addition to voting rewards, Flockerz offers a staking system that allows FLOCK holders to earn a stunning annual return of 567%. This creates a compounding opportunity where members can earn rewards through voting, stake those rewards, and grow their holdings over time.

FLOCK tokens are currently available for $0.0062245 and can be purchased with ETH, USDT, BNB, or a bank card.

Investors interested in purchasing should act quickly before the price increases in just over two days.

Buy FLOCK tokens on the official website here.

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