Cardano

Avalanche

<ul><li>AVAX shows bullish signals as it breaks out of a downtrend, nearing overbought territory.</li><li>ADA forms a falling wedge, indicating a potential breakout and upward price movement.</li><li>Analyst predicts AVAX could see a 200% rally after a successful wedge breakout.</li></ul>Avalanche (AVAX) and Cardano (ADA) are showing promising signs of potential breakouts in their respective trading charts. Recent analyses by Captain Faibik suggest that these cryptocurrencies may soon experience significant bullish movements.AVAX has seen a robust recovery, pushing its price to around $26. This surge comes after a prolonged period of decline, with the coin now breaking out of a downward trendline. The Relative Strength Index (RSI) for AVAX stands at 62.35, indicating strong buying pressure, while the Moving Average Convergence Divergence (MACD) shows bullish momentum as it crosses above the signal line. Faibik is optimistic about an imminent breakout, predicting a 200% rally akin to the one witnessed in November and December 2023.Adding to the bullish sentiment, AVAX was priced at <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">$26.19</a> at press time, reflecting a significant 12.03% increase in just one day. The market cap now stands at $10.6 billion, marking a 12% rise, with a 24-hour trading volume of $419.4 million, up by 52.21%. These figures reinforce the optimism surrounding <a href="https://cryptotale.org/analyst-predicts-avax-surge-targets-set-at-130-and-230/" rel="noopener noreferrer nofollow">AVAX&#39;s</a> potential breakout, making it a key asset to watch in the coming days.Related: <a href="https://cryptotale.org/cardano-ada-and-matic-show-potential-for-bullish-momentum/" rel="noopener noreferrer nofollow">https://cryptotale.org/cardano-ada-and-matic-show-potential-for-bullish-momentum/</a>On the other hand, <a href="https://cryptotale.org/cardano-stagnates-as-40-of-ada-held-by-long-term-investors/" rel="noopener noreferrer nofollow">Cardano</a> (ADA) is also showing promising signs. The cryptocurrency is forming a falling wedge pattern on the daily timeframe. This pattern is often seen as a bullish reversal signal, indicating that ADA could soon break out of its downtrend. The RSI for ADA stands at 56.29, suggesting moderate buying interest and the MACD is beginning to turn positive, hinting at a potential upward move.<a href="https://cryptotale.org/avax-and-ada-on-the-verge-of-breakouts-from-key-patterns/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

AVAX and ADA on the Verge of Breakouts from Key Patterns

CryptoTale

Other articles published on Aug 23, 2024

Justin Sun Addresses Concerns Over 12,000 Bitcoin Withdrawal from USDD’s Collateral

The Latest Pi Network Updates

DWF Labs Sends CRV to Binance, Sell-Off Speculation Ensues

El Salvador adds 162 Bitcoins to national holdings

Fort Worth Crypto Company Faces $5.6 Million Fraud Lawsuit

Is It Too Late To Buy HARAMBE? Harambe Price Soars 20% And This Might Be The Next Crypto To Explode

Join our free newsletter for daily crypto updates!