Convergence

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Cardano

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<p>Crypto Winkle has issued a major alert for <a href="https://captainaltcoin.com/analyst-says-cardano-chart-looks-exactly-like-solana-before-the-rally-ada-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA)</a>, predicting a price rally. Besides, the chart shared by Crypto Winkle reveals a crucial moment for ADA, as the crypto breaks out of a descending triangle pattern.&nbsp;</p>
<p>Moreover, this pattern, often considered a bearish signal, has been reversed in this case, hinting at a potential bullish momentum for ADA.&nbsp; The breakout marks an exciting moment for traders, especially given the favorable technical indicators accompanying this price action.</p>
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   <p lang="en" dir="ltr">Cardano <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ADA</a> Alert: Massive Breakout Incoming!<a href="https://twitter.com/Cardano?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Cardano</a> enthusiasts, brace yourselves! The descending triangle pattern that's been haunting us has finally been shattered!<br><br>Key points to get you hyped:<br>* RSI sitting at a cozy 45 – perfectly primed for a rally.<br>* MACD flashing… <a href="https://t.co/wewRiBYlcO" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/wewRiBYlcO</a></p>— Crypto Winkle (@CryptoWinkle) <a href="https://twitter.com/CryptoWinkle/status/1843598045335957833?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 8, 2024</a>
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<h2 class="wp-block-heading" id="strong-ada-triangle-breakout-confirmed-strong"><strong>ADA Triangle Breakout Confirmed</strong></h2>
<p><a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="Cardano" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> has broken through the top limit of a descending triangle formation in the chart, which has been driving pricing pressure since mid-2023. Usually connected with declining prices, descending triangles can also indicate the beginning of a strong upward trend when broken to the upside.</p>
<p>The breakout from this pattern is a key technical signal that aligns with Crypto Winkle’s bullish forecast.</p>
<p>The analyst’s tweet emphasized the importance of this breakout, noting that <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer nofollow">ADA’s long-standing</a> resistance within the triangle has been shattered, setting the stage for a possible rally.</p>
<h2 class="wp-block-heading" id="strong-cardano-indicators-flash-bullish-signals-strong"><strong>Cardano Indicators Flash Bullish Signals</strong></h2>
<p>Two important technical indicators aiding the breakout are the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD).&nbsp;</p>
<p>At about 45, the RSI indicates that ADA is neither overbought nor oversold—a level usually considered the ideal zone for upward momentum. This implies that <a href="https://coingape.com/markets/cardano-price-bottoms-is-2-next-for-ada/" target="_blank" rel="noopener noreferrer nofollow">ADA has the momentum</a> to keep on its increasing slope free from imminent sales pressure.</p>
<p>Furthermore, the MACD line crosses above the signal line, a frequent indicator of increasing bullish momentum, therefore entering positive territory. Based on Crypto Winkle’s analysis, this crossing supports the likelihood of an ongoing uptrend.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/solana-price-primed-for-a-rally-can-sol-smash-through-152-and-soar/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Solana Price Primed for a Rally—Can SOL Smash Through $152 and Soar?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-price-target-and-potential-upside-strong"><strong>Price Target and Potential Upside</strong></h2>
<p>With the descending triangle now behind it, Crypto Winkle predicts that ADA could be on track to test the $1 mark. This would represent nearly a 3x gain from the current price of around $0.35.&nbsp;</p>
<p>If ADA continues to build on this momentum and clears resistance levels around $0.50 and $0.75, this ambitious target could come into play. All in all, the combination of a confirmed breakout, favorable RSI, and bullish MACD provides solid technical reasons to be optimistic about ADA’s future price action.</p>
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<p>The post <a href="https://captainaltcoin.com/expert-makes-bold-cardano-prediction-is-ada-price-set-for-a-3x-move/" rel="noopener noreferrer nofollow">Expert Makes Bold Cardano Prediction: Is ADA Price Set For a 3x Move?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Expert Makes Bold Cardano Prediction: Is ADA Price Set For a 3x Move?

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