The post Bull Flag, Low Risk Hint at Major ADA Rally appeared on BitcoinEthereumNews.com.

Cardano is attempting to break out of a descending flag pattern. Analysts project ADA could reach $1.13–$1.32 if the breakout holds. Long-term risk models suggest the Cardano bull run may still be in its early stages. Cardano is gaining momentum with the possibility of a breakout above a key resistance level. A recent chart suggests a bullish flag breakout that could lead to higher prices. Analyst Lucky Luciano, for instance, points to a recent chart formation indicating a bullish flag breakout that could propel ADA prices higher. In a tweet, analyst Lucky Luciano shared a one-day chart of Cardano and noted that the coin “seems to be in the right direction.” Analyst Luciano Spots Potential ADA Bull Flag Breakout Luciano’s chart notably shows Cardano forming a bullish breakout pattern. ADA had been trapped in a descending flag channel for several months. This consolidation pattern formed following a significant rally in late 2024 that lifted ADA’s price from below $0.40 toward $1.32. The chart showed ADA moving above the $0.6816 level. This move puts it above the upper boundary of the downtrend, often interpreted as a signal that bearish pressure may be weakening. Meanwhile, ADA has surpassed this level, currently trading at $0.7121, after a 4.5% rise in the past day.  According to the technical analysis, the projected target range for ADA lies between $1.13 and $1.32. These levels correspond to the height of the previous rally and the measured move expected from a successful bullish flag breakout. Related: Cardano (ADA) Price Prediction for May 9: Can Bulls Hold Above $0.70? While the breakout is promising, the $0.31–$0.40 zone remains a strong historical support area. This range marked the beginning of the last significant ADA rally and may provide a cushion in the event of a retracement. Gambardello Risk Model: Cardano…

---

Filed under: News - @ May 8, 2025 11:28 pm