The post Can ADA Repeat History With Over 1230% Surge? appeared on BitcoinEthereumNews.com.

Cardano (ADA) has given a much-awaited range breakout, which was floated on the charts after a year. The price action suggests that the coin may continue gaining strength and extend the bullish rally toward $1 in the following sessions. During 2021, a sharp range breakout was triggered after a long consolidation, and the coin rallied by over 800%. Analysts gave their opinion that the coin may repeat history and surge over 1230%. If it crosses the $1.40 mark, the $3 and $6 upside doors will unlock. ADA crypto price has bounced back from the lows of $0.2300 and recovered over 110% in the last sessions. Moreover, the coin has surpassed the key moving averages and is poised to crack the round mark of $1 soon. Following the market surge, the coin gained momentum and conveyed the bulls’ intent of heading toward the blue sky zone of $2. The Cardano coin (ADA) price was $0.5898 at press time, with an intraday drop of 1.31%, reflecting neutrality on the charts. Moreover, the trading volume decreased by 10.20% to $469.75 Million. The pair of ADA/BTC is at 0.0000114 BTC, and the market cap is $21.54 Billion. Analysts are neutral and suggest that the ADA price will retest the upside of $1.00 in the following sessions. ADA On Daily Charts Reveals Falling Wedge Breakout Source: ADA Price Chart By TradingView On the daily charts, the Cardano price shows a falling wedge breakout and noted buyer accumulation in the recent sessions. Moreover, the price action signifies the rebound from the 20-day EMA mark, and fresh buying momentum could soon lead ADA price toward the high of $1. Additionally, the trend is intact, and the coin may continue to stretch the highs. The Relative Strength Index (RSI) curve stays in the overbought zone and forms a…

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Filed under: News - @ February 17, 2024 6:22 pm