The article states that Cardano (ADA) has a bullish macro outlook, indicating the potential for a significant price increase if it breaks out from its current symmetrical triangle pattern. The mean coin age (MCA) for ADA is rising, suggesting that investors are holding onto their tokens, which reinforces the asset's long-term growth potential. The Relative Strength Index (RSI) is gradually improving, reflecting increasing buying interest, but it has not yet reached a level of strong bullish momentum. If ADA can break out of its current pattern and flip key levels into support, there is the potential for a 64% rally, reaching a target of $1.74. However, failure to break out could result in ADA's price falling to around $0.94.
- Content Editor ( beincrypto.com )
- 2025-01-14
Cardano Bulls on Standby: ADA Eyes Major Breakout Amid Market Optimism