Cardano

Bitcoin

Daily

Coin

<ul class="wp-block-list news-points">
 <li>Cardano (ADA) shows a “bottom-out” pattern against Bitcoin on the daily chart.</li>
 <li>Analysts think ADA is setting up for a significant bull run.</li>
 <li>Cardano’s blockchain updates could trigger increased ADA adoption.</li>
</ul>
Cardano (ADA) is showing a “bottom-out” pattern against Bitcoin on the daily chart, and crypto analysts think the altcoin will reverse course soon, potentially starting a bull run. Although ADA hasn’t been very volatile lately, most users believe the altcoin is about to do something notable before the expected overall crypto market rally.
The ADA/BTC daily chart on TradingView shows the pair is retesting significant support. That is the fourth time ADA has tested this level against BTC. In the past, this has led to an ADA rally, with the altcoin gaining approximately 15% against Bitcoin each time. Following the multiple retests and rallies, the ADA/BTC pair has formed a classic horizontal channel that could be important for analyzing ADA’s trend.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="512" height="262" src="https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387.png" alt="" class="wp-image-523429" srcset="https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387.png 512w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-300x154.png 300w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-380x194.png 380w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-159x81.png 159w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-440x225.png 440w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-414x212.png 414w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-322x165.png 322w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-377x193.png 377w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-123x63.png 123w, https://coinedition.com/wp-content/uploads/2024/10/unnamed-2024-10-08T174752.387-129x66.png 129w" sizes="(max-width: 512px) 100vw, 512px">
 <figcaption class="wp-element-caption">
 ADA/BTC Daily Chart on <a href="https://www.tradingview.com/x/mZIuk2Qc/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
 </figure>
</div>
Looking at the chart, the ADA/BTC current chart formation shows a sideways channel between a 0.00000552 BTC lower limit and a 0.00000624 BTC upper limit for ADA.…
The post <a href="https://coinedition.com/cardano-ada-may-be-nearing-a-bull-run-against-bitcoin/" rel="noopener noreferrer nofollow">Cardano (ADA) May Be Nearing a Bull Run Against Bitcoin</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Cardano (ADA) May Be Nearing a Bull Run Against Bitcoin

Coin Edition

Other articles published on Oct 8, 2024

VeChain Awarded US Patent for Blockchain-Based Identity Authentication

Whale Alert: 1.3 Trillion Shiba Inu Moved to Exchanges in One Day, Price Reacts

Japan’s Metaplanet Expands Bitcoin Holdings to $40.5M With Another 108 $BTC Purchase

Market Strategist Predicts Shiba Inu (SHIB) Triple-Digit Rally

MoonBag Mania: Analysts Predict $MBAG to Skyrocket to $1 – Don’t Miss the Presale Frenzy

Financial Planning for Expats: Managing Income and Expenses Abroad

Join our free newsletter for daily crypto updates!