
Cardano Yearly Support: The Key To A 15% Price Breakout?
Cardano (ADA) has remained perched above the critical annual support level of $0.24, a steadfast line of defense in the face of market volatility. Despite the notable price swings, the asset’s price action has failed to commit to either a bullish or bearish trend, leaving market participants uncertain about the coin’s future. A closer look at the daily chart reveals that this indecisive phase is gradually forming a symmetrical triangle pattern, potentially holding the key to forecasting the coin’s near-term trajectory. As of the most recent data from CoinGecko, Cardano....
Related News
Cardano price is currently trading slightly above $0.50, price of the asset has been consolidating over the past few days. ADA has been struggling below the immediate resistance level. The coin has attempted to flash a break-out couple of times but it was met with the bears each time. Since Cardano price is trading sideways, chance of a breakout cannot be ruled out immediately. Technical outlook for ADA has also started to turn positive as the buying strength started to recover on the chart. Over the last 24 hours, Cardano price noted a small depreciation. In the past week, ADA lost 2% of....
The price of Cardano (ADA) has shown bullish signs and could be set for a major run against Tether (USDT) after bouncing from key support. Ethereum price rallied with so much strength from a region of $1,670 to $2,000 ahead of the Ethereum “Merge”. This has brought relief bounces for many altcoins, including the price of Cardano (ADA). Related Reading: Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon “The Merge” is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) so as to increase its network efficiency in....
The Cardano price is targeting a bullish breakout to $6 after experiencing a bounce from its initial 43% downturn. While other cryptocurrencies like XRP and Bitcoin (BTC) recorded massive gains in this bull market, Cardano (ADA) maintained a relatively muted price last year, experiencing significant volatility. Despite this, analysts remain bullish on ADA, emphasizing its potential for a substantial price recovery and a surge to new ATHs. Cardano Price Targets $6 ATH Ali Martinez, a prominent crypto analyst on X (formerly Twitter), shared a bullish price prediction for Cardano,....
A crypto analyst has confirmed a recent breakdown of the Cardano price from an Ascending Channel pattern. With key support and resistance levels now in focus, the analyst has outlined two scenarios for ADA, projecting where its price could move next. Cardano Price Ascending Channel: Bullish Scenario The Cardano price has been trending within an Ascending Channel for some time, maintaining steady price momentum amidst market volatility. However, a TradingView crypto analyst, known as ‘MelikaTrader94’, has identified a recent change in the Cardano price action. The analyst highlights that....
Cardano has faced significant volatility and selling pressure, mirroring the struggles of the broader crypto market as it searches for strong support. Since early December, ADA has seen its price plummet by over 61%, with bears dominating the trend and bulls unable to reclaim momentum. Despite the challenging environment, Cardano has shown signs of recovery, experiencing a 15% breakout yesterday that has pushed the price to a critical level. Related Reading: Litecoin Approaches Daily Range Peak – Can LTC Break Multi-Year Highs? This breakout offers a glimmer of hope for investors, but ADA....