Cardano Price Prediction As Yearly Support Sets a 20% Upswing
The post Cardano Price Prediction As Yearly Support Sets a 20% Upswing appeared on BitcoinEthereumNews.com. The triangle pattern formation indicates the ADA price may prolong the current sideways. Should you keep holding? Published 6 seconds ago For more than two months, the ADA price has been oscillating above the crucial yearly support of $0.24. Despite making huge price swings, the price action does not contribute to either trend indicating uncertainty among market participants. Notably, the daily chart reveals that this phase of indecisiveness is shaping into a symmetrical triangle pattern, which could assist in determining the near future projection of this coin. Also Read: Top 10 Cheap Cryptocurrencies to Buy in 2023 Will the ADA Price Surge Back to $0.3? A bullish reversal from $0.24 support sets a 5.5% upswing The Crypto traders may witness intense supply pressure at $0.3 The intraday trading volume in the ADA coin is $70 Million, indicating a 22% gain Source- Tradingview In light of the recent market downturn, the Cardano coin price retreated from an October 6th high of $0.267 to its present value of $0.246, marking a 12% drop. This decline has pushed the coin back to the lower boundary of its symmetrical triangle, where buyers are attempting to rekindle bullish momentum. Given that this support level has prevented significant downward movement on three prior occasions over the last four months, its durability should not be underestimated. Should the coin manage to hold above this lower trendline, we might see a modest upward swing targeting the upper boundary of the triangle at around $0.258, a 5.5% increase. As long as the triangle’s parameters remain intact, the ADA price is likely to continue in a sideways pattern. However, a successful break above the triangle could trigger a 15% rally, propelling the coin towards the $0.3 milestone. ADA vs BTC Performance Source: Coingape| Cardano Vs Bitcoin Price In a comparative…
The post Cardano Price Prediction As Yearly Support Sets a 20% Upswing appeared on BitcoinEthereumNews.com.
The triangle pattern formation indicates the ADA price may prolong the current sideways. Should you keep holding? Published 6 seconds ago For more than two months, the ADA price has been oscillating above the crucial yearly support of $0.24. Despite making huge price swings, the price action does not contribute to either trend indicating uncertainty among market participants. Notably, the daily chart reveals that this phase of indecisiveness is shaping into a symmetrical triangle pattern, which could assist in determining the near future projection of this coin. Also Read: Top 10 Cheap Cryptocurrencies to Buy in 2023 Will the ADA Price Surge Back to $0.3? A bullish reversal from $0.24 support sets a 5.5% upswing The Crypto traders may witness intense supply pressure at $0.3 The intraday trading volume in the ADA coin is $70 Million, indicating a 22% gain Source- Tradingview In light of the recent market downturn, the Cardano coin price retreated from an October 6th high of $0.267 to its present value of $0.246, marking a 12% drop. This decline has pushed the coin back to the lower boundary of its symmetrical triangle, where buyers are attempting to rekindle bullish momentum. Given that this support level has prevented significant downward movement on three prior occasions over the last four months, its durability should not be underestimated. Should the coin manage to hold above this lower trendline, we might see a modest upward swing targeting the upper boundary of the triangle at around $0.258, a 5.5% increase. As long as the triangle’s parameters remain intact, the ADA price is likely to continue in a sideways pattern. However, a successful break above the triangle could trigger a 15% rally, propelling the coin towards the $0.3 milestone. ADA vs BTC Performance Source: Coingape| Cardano Vs Bitcoin Price In a comparative…
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