Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout

Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout

Cardano may not be a top gainer in the crypto market but that does not mean that it has fallen behind. During the altcoin rally, the price of Cardano’s native coin ADA has gone from a low of $0.25 to a high of almost $0.4 before correcting back downwards. This positive trend has been preserved even through the crypto market dip and it seems that there is only one thing in the way of Cardano’s rise to a new yearly high. Falling Wedge Pattern Holds Back Cardano According to a crypto analyst on the TradingView website, the one thing that is holding back the Cardano price from mounting a....


Related News

Internet Computer eyes 50% move as ICP enters 'falling wedge' breakout territory

ICP price is likely to face strong resistance at its 50-day exponential moving average right under $20. The price of Internet Computer (ICP) reversed directions after falling to its record low near $14.50 on Feb. 24 and has rebounded by more than 30% ever since. And now, it appears the 35th-largest digital asset by market capitalization has more room to grow in the coming weeks.ICP breaks out of 'falling wedge'ICP's daily chart shows a falling wedge pattern — a setup consisting of two descending, converging trendlines connecting lower highs and lower lows. The intersecting nature of the....

Cardano chalks a bearish wedge as ADA price soars by over 100% in Q3

The bearish outlook appears also as Cardano’s daily RSI reflects overbought sentiments. However, the euphoria surrounding Cardano’s smart contracts launch and its mild correlation with Bitcoin are keeping the upside hopes intact. The latest rally in the Cardano (ADA) market has activated a classic bearish pattern that threatens to lower its prices by as much as 15%.Dubbed as a rising wedge, the textbook pattern forms when the price consolidates between upward sloping resistance and support trendlines. Its occurrence typically prompts a bearish reversal, confirmed by a voluminous break....

Monero 'falling wedge' breakout positions XMR price for 75% rally

The bullish setup emerges as Monero gears up to undergo a major hard fork in July 2022. Monero (XMR) price dropped by nearly 10% three days after establishing a week-to-date high around $290 on April 24. Nonetheless, several technical indicators suggest that the XMR/USD pair is poised to resume its uptrend over the next few months.Falling wedge breakout underwayNotably, XMR's price broke out of its "falling wedge" structure in late March. It continued its move upside in the later daily sessions, with rising volumes indicating bullish sentiment among Monero traders.Traditional analysts....

Cosmos Jumps 38%–Textbook Indicator Points to 70% Price Rally

Cosmos’s native token ATOM has surged more than 38 percent in the last five days, validating a textbook technical indicator that now predicts additional 70 percent gains for the cryptocurrency. ATOMUSD breaks out of its Falling Wedge pattern. Source: TradingView.com As shown in the chart below, ATOM/USD was trading inside a Falling Wedge pattern, confirmed […]

$50 Injection? Analyst Bullish On Injective After 25% Surge

The price of Injective has increased by over 25% in the past week, from a low of $17 to $23.27 this morning. Recently, the cryptocurrency market has been trending positively, and the substantial increase in Bitcoin’s price is a significant factor in this price ascent. The upbeat perception of Bitcoin has been a significant factor in the success of altcoins. Injective is one of the most significant beneficiaries. Related Reading: Expert Foresees XRP Soaring To $250: Technical Analysis Explained A decent rise in trading volume has coincided with INJ’s price spike, suggesting....