CandleFocus Cardano (ADA) Bullish Breakout Imminent? Eyes on 23% Price Surge
2024-09-21
Author: Content Editor
Cardano (ADA) has the potential to rally by 23% to $0.44 if it can break resistance at $0.365 and close a daily candle above $0.366. Technical analysis shows bullish price action patterns and a cup-and-handle formation, indicating potential buying opportunities and a significant upside rally. On-chain metrics, such as the ADA Long/Short ratio and increasing open interest, also suggest a positive outlook. However, ADA is currently in a downtrend as it is trading below the 200 Exponential Moving Average (EMA). Despite this, traders and investors are showing bullish sentiment, and ADA has experienced a small price surge in the last 24 hours.
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