ADA cryptocurrency shows strong bullish momentum and analyst predicts 50% rally for Cardano soon
The cryptocurrency Cardano (ADA) has seen a surprising performance this month as an impressive bullish rally has captured the attention of investors and market enthusiasts, rising nearly 186% in the period. Currently, the ADA cryptocurrency is showing a strong bullish momentum and an analyst shared a 50% rally prediction for Cardano soon.
Given the current scenario, the cryptocurrency expert known as CoreCrypto1, on TradingView, highlighted a forecast of 50% gains for Cardano soon.
“ADA is showing strong bullish momentum! It is breaking out of a bullish flag-like structure, with a successful retest confirming the move. Support is holding firm, signaling a potential rally ahead. Now is the time to buy a little and add more within the given range!” he highlighted.
According to analysis , the cryptocurrency’s current setup is pointing to a decisive bullish breakout for ADA. “With the retest confirmed and strong support levels, it looks like an excellent opportunity for traders,” he added. The expert projected a bullish breakout towards the $1.49 level.
Source: TradingView/CoreCrypto1
At the time of publication, Cardano’s price was trading at $0,9962, down 0.5% in the last 24 hours. In just one week, ADA has seen a price increase of 25.1%.
It is worth remembering that Cardano rekindled the enthusiasm of its investors in the cryptocurrency market by surpassing the US$ 1 mark. In a analysis In a recent post, cryptocurrency analyst Dan Gambardello noted a growing wave of optimism surrounding ADA. According to him, “many holders have used this level to take profits, while others see the current consolidation as a preparation for further gains.” This consolidation and redistribution phase is seen by Gambardello as a prelude to potential growth, with ADA potentially reaching $5 or even $10 in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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