Cardano (ADA) Eyes 40% Surge as $1.05 Breakout Nears — Will Bulls Prevail?
The post Cardano (ADA) Eyes 40% Surge as $1.05 Breakout Nears — Will Bulls Prevail? appeared on BitcoinEthereumNews.com.
Cardano (ADA) is approaching a critical price breakout, with analysts predicting a potential 40% surge if it clears the $1.05 resistance level. A symmetrical triangle pattern has emerged on ADA’s price chart, a formation that often precedes a strong directional move. If bullish momentum prevails, ADA could see a rally toward $1.40 in the coming weeks. Bullish Indicators Signal Breakout Potential ADA has been resilient lately and has formed three successive bullish candles on the daily chart. It forms a double-bottom reversal structure from $0.90, further ingraining positivity among investors. Cardano changes hands at $0.98, up 1.82% in today’s session. Cardano ($ADA) is poised for a potential 40% surge as it consolidates within a symmetrical triangle, signaling an imminent breakout. Source: Ali Martinez via X Technical indicators reveal that ADA is near completing its consolidation, with a significant change predicted in March 2025. Cryptocurrency analyst Ali Martinez stated, “Cardano is in a symmetrical triangle, getting ready for a breakout that can make a 40% price move.” WATCH CARDANO (ADA) PRICE ANALYSIS Traders are monitoring significant resistance and support levels to observe how probable an upward breakout is. Cardano (ADA) has plotted the symmetrical triangle pattern on the 4-hour timeframe chart. Source: Ali Martinez via X Also, the Moving Average Convergence Divergence (MACD) indicator is soon to have a bullish crossover, meaning momentum is in buyers’ favor. In addition, the 50-day Exponential Moving Average (EMA) has been supported, preventing a bearish crossover with the 20-day EMA. Fibonacci retracement levels would mean a move upwards beyond $1.05 opens ways to a continued rally. Institutional Interest and Market Sentiment Open interest in Cardano futures has increased by 0.51%, now standing at $1.22 billion. This rise indicates growing trader speculation ahead of the expected breakout. Nonetheless, the funding rates have fallen to 0.033%, suggesting…
Filed under: News - @ February 2, 2025 1:23 am