Convergence

Cardano

bullish

Rally

<ul class="wp-block-list">
 <li>Cardano’s price climbed by 2.42%, climbing up to $0.3461.</li>
 <li>The historical pattern suggests ADA might rally around mid-November.</li>
</ul>
Despite the negative turns over the past few days, the broader crypto market has experienced a strong bullish recovery in the past few hours. Bitcoin has pushed certain altcoins up along with its $71K breakout.&nbsp;
However, the price of Cardano (ADA) exhibits a notable 2.42% spike over the day. Analysts are expecting significant returns for ADA in the upcoming bull rally and it has created curiosity among traders.&nbsp;
Notably, Ali charts have <a href="https://x.com/ali_charts/status/1851134619422240926" target="_blank" rel="noopener noreferrer nofollow">noticed</a> Cardano’s current market movements resembling its historical patterns during the 2020 cycle. There’s anticipation hovering that ADA might replicate the prior pattern, suggesting it could reach a new peak. In addition, the historical analysis hints that ADA might rally around mid-November, in the aftermath of the U.S. presidential <a href="https://thenewscrypto.com/us-elections-fuel-optimism-in-crypto-markets-as-btc-nears-69k/" target="_blank" rel="noopener noreferrer nofollow">election</a>. Further eyeing to reach a market top in September 2025.&nbsp;
However, the current market momentum might trigger Cardano to exhibit upward movement. Over the past 24 hours, the asset has recorded its highest trading level at $0.35. At press time, Cardano traded at $0.3461, with its daily trading volume soaring by over 53.75%, as per CMC <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer nofollow">data</a>.&nbsp;
Over the past week, Cardano lost over 4.20%, <a href="https://thenewscrypto.com/can-cardano-break-the-supply-zone-or-face-another-decline/" target="_blank" rel="noopener noreferrer nofollow">slipping</a> from $0.3674 to a low of $0.3208. However, the bearish outlook diminished, as November is around the corner.&nbsp;
<h3 class="wp-block-heading" id="h-can-ada-expect-a-bullish-turn">Can ADA Expect a Bullish Turn?</h3>
Looking ahead at the four-hour technical <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3AADAUSD" target="_blank" rel="noopener noreferrer nofollow">chart</a> of ADA, the current market is in the neutral sentiment, as the daily relative strength index (RSI) stays at the 57 mark. Moreover, the asset’s daily frame exhibits the short-term 9-day MA above the long-term 21-day MA.
Besides, the Moving Average Convergence Divergence (MACD) indicator is marked above the signal line, suggesting a bullish sentiment and an incoming bull run can be expected.&nbsp;&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcEpGvn5PXeKASNUE1sOJVnUEjvy-MK0UMd3MCpOjijV0aMECkbALMHlZd2gB7ouq_eFBP3BIoH_wlcUgt8JeeJ62ps23j212B5XnoeLWWGzuVEjvkPWDocbnrr91IwS6fnOGICXfxwYY53s3RSuwuOuRs?key=zdeZwO9bg9ethD72MoiLUA" alt="">
 <figcaption class="wp-element-caption">ADA chart (Source: <a href="https://in.tradingview.com/symbols/ADAUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
The Chaikin Money Flow (CMF) indicator is found at 0.11, indicating the increased money flow with an optimistic outlook. Consequently, the daily trading volume of ADA has reached $298 million.&nbsp;
The four-hour price chart of ADA shows the upside momentum, breaking the $0.3400 level. If the uptrend persists, the asset could test and rally toward the resistance level at $0.3572. Moreover, ADA can further push the price to set new highs.&nbsp;
On the flip side, if the current price momentum reverses in the upcoming days, the price could retrace down to $0.3364 or even lower if the price fails to hold the ground.&nbsp;
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Can Cardano (ADA) Stage a Bullish Breakout Prior to November?

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