CandleFocus Cardano to $3? Analyst Says Price Surge is Overdue
2024-11-02
Author: Content Editor
Pseudonymous crypto analyst Madmaudo believes that Cardano (ADA) is overdue for a surge to levels near its all-time high. Despite a month of sideways price movement, Madmaudo argues that ADA's chart indicates the formation of a descending triangle, which suggests an imminent breakout. The analyst predicts that ADA will surge to $3, an 88% increase from its current price, and aims to break out of the descending triangle to reach this target. Madmaudo cites the recent partnership between Cardano and Bitcoin as a potential catalyst for ADA's price increase. At the time of writing, ADA is trading at $0.3578.
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