Bull Flag Rally Points To Another 50% Surge
Cryptocurrency analyst CoreCrypto predicts that Cardano price may soon experience a major breakout. The analyst highlighted bull flag structure This could lead to another 50% increase in the price of Cardano.
Cardano price is about to breakout
in a Transaction View PostCardano price is showing strong bullish momentum and is breaking out of a bull flag structure, with a successful retest confirming the move, CoreCrypto said. The analyst added that support levels remain strong, indicating a possible rebound ahead. Accordingly, he said it was time long ida And accumulate more within this range.
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For those looking to trade ADA, analysts say the entry range is the current market price, which can total up to $0.98. At the same time, he set four targets for this long trade. The first target is $1.08, the second target is $1.24, the third target is $1.36, and the fourth target is $1.49, which means Cardano price can reach up to surge by 50% Judging from the current level.
Meanwhile, analysts told traders to place stops at $0.92. As for why this analysis is important, CoreCrypto says that this setup points to a decisive bullish breakout for Cardano price. Analysts say that with confirmation of the retest and strong support levels, this appears to be an excellent opportunity for traders.
Cardano price certainly has a bullish outlook, especially considering that whales are actively accumulating ADA. This shows that these investors are bullish on cryptocurrencies and expect price increases in the future. NewsBTC recently reported that whale bought As demand for the cryptocurrency continues to soar, more than 130 million coins were created.
IntoTheBlock data also shows that ADA’s large transaction volume surged by more than 5%, which paints a bullish picture for Cardano price. Meanwhile, the Net Network Growth indicator is also currently bullish, meaning investors are actively using the Cardano network.
ADA could rise to $10 in this bull run
cryptocurrency analyst Dan Gambardello It is expected that Cardano price may rise to $10 during this bull run. His prediction was made while discussing Cardano crossing the $1 milestone. He said that now that ADA has broken through this price mark, it is great to see consolidation and reallocation among holders.
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Gambardello believes that once the consolidation and reallocation phase is over, Cardano price may rise to $5 and then to $10. In X post, Cryptocurrency Analyst Sebastian Cardano said it looks promising. He predicts that prices may soon break out, followed by a break, and then a “moon”.
Cardano price is reportedly around $1.06 at the time of writing, up more than 5% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
