Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days
March 12 2024 - 5:10AM
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Optimism surrounds Cardano (ADA) despite some recent hiccups. ADA
stands resilient, maintaining a positive outlook despite a 5%
decrease over the past week. Currently priced at $0.75, ADA
demonstrates a robust stance with a 24-hour trading volume of $1.14
billion and a market capitalization of $24 billion. Related
Reading: Crypto Fever: Bitcoin Smashes Records, Approaching $73,000
Milestone Analyst Points To Promising Weekly Chart Trends Renowned
crypto analyst Sssebi is charting an optimistic course for ADA,
emphasizing the significance of the weekly chart in understanding
the broader context. Nestled above its 200-week moving average, ADA
shows promise with significant green candles on the weekly charts
and a noticeable uptick in buying momentum, signaling a strong
underlying trend. Source: Coingecko ADA Primed For A Smooth Ascent
Sssebi’s analysis suggests a bright week ahead for ADA, predicting
a potential surge of 50-60%. Notably, he points out the absence of
major resistance levels until ADA hits $1.2, indicating a
relatively smooth path for the cryptocurrency in the immediate
future. This projection aligns with the analyst’s positive
assessment of ADA’s present positioning and the overall market
sentiment. If you are ever concerned about $ADA, just look at the
weekly chart. Above 200 Week Moving Average with some huge weekly
green candles and huge buying pressure. Next week will be huge for
$ADA, there is not much resistance until $1.2, we could see a
50-60% increase next week. https://t.co/Z6pdH37wWe
pic.twitter.com/anlV5YqWl4 — Sssebi🦁 (@Av_Sebastian) March 10, 2024
Will Cardano Hit $3 By May? After looking at ADA’s performance in
the past, Sssebi notices similarities to past market cycles, namely
the one in which ADA saw a substantial decline of almost 35%.
Nevertheless, ADA not only bounced back from a significant
pullback, but it also exceeded its prior ATH. The analyst projects
significant increase in the following months, and based on this
historical viewpoint, ADA might reach a price of $3 by May or
approximately. Ether market cap currently at $483 billion. Chart:
TradingView.com Technical Resilience, Foundation Building: ADA’s
Strength Unveiled Beyond the short-term predictions, ADA is
described as constructing a robust foundation for future growth.
The cryptocurrency showcases resilience by navigating between
substantial support and resistance levels. Notably, at the $0.58
mark, ADA finds reliable support with the 50-day moving average
acting as a safety net during retracements. This technical analysis
underlines the structural strength of ADA, setting the stage for a
potential surge. Related Reading: Cloudy Future For Ethereum ETFs –
What’s Casting Doubt On Their Fate? ADA Navigates Towards The
Coveted $1 Mark Despite recent fluctuations, ADA maintains a
positive trajectory, hinting at an upcoming bullish trend that
could propel it toward the coveted $1 mark. The market analysis
reflects a cryptocurrency in transition, oscillating between
support and resistance levels, creating a favorable environment for
a potential surge in the near future. Featured image from Igor
Mashkov/Pexels, chart from TradingView
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