Cardano (ADA) has experienced a 13.5% increase in March, following a 32% dip in February, hinting at potential further price gains. A key social sentiment indicator observed by Santiment has reached a four-month high, signaling increased bullish sentiment among investors. Following an SEC classification of Cardano's use as 'smart contracts for government services,' positive comments around ADA surged, marking the highest ratio since early November 2024. Despite a decline in transaction activity—current counts at 26,437 for March 18 versus over 100,000 in late 2024—experts believe the strong community backing of Cardano may spur price action. For ADA to see a 20% increase by the end of March, a close above immediate resistance at $0.78, supported by the 200-day exponential moving average, is essential. Should it breach that level, targets are set between $0.84 and $0.88, with the former marking a predicted 20% return. Prolonged sideways movement, however, may constrain immediate gains, necessitating a confirmation of upward momentum for a sustained rally.

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