Cardano

Rally

Lido DAO

<p>Analyst and trader @ZAYKCharts has shared an optimistic outlook for <a href="https://captainaltcoin.com/cardano-ada-price-to-spike-50-if-this-key-resistance-breaks/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA)</a>. He pointed to a bullish breakout in a Falling Wedge pattern on the daily chart.&nbsp;</p>
<p>Per the trader, ADA’s breakout suggests a potential upward price movement of 60-70%, which could push the token’s price higher. His analysis also highlights an increase in buying momentum following the breakout, offering <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="ADA" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">ADA</a> holders a positive short-term outlook.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ADA</a> Faling Wedge Breakout is Done in 1D Timeframe<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Expecting 60-70% Bullish Wave<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ADA</a> <a href="https://twitter.com/hashtag/ADAUSDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ADAUSDT</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://t.co/RD0bYw3i5R" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/RD0bYw3i5R</a></p>— ZAYK Charts (@ZAYKCharts) <a href="https://twitter.com/ZAYKCharts/status/1854370589617906019?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 7, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In the shared analysis, ZAYKCharts highlights a Falling Wedge pattern, typically seen as a bullish signal in technical analysis. A consolidation phase is indicated by the convergence of two descending trendlines in this pattern. ADA’s downtrend came to an end as it broke over the upper trendline, indicating a turnaround to bullish territory.</p>
<p>A spike in purchasing pressure coincided with the breakout, enhancing the <a href="https://watcher.guru/news/cardano-ada-forecasted-to-spike-18-in-november-2024" target="_blank" rel="noopener noreferrer nofollow">likelihood of a robust bullish trend</a>. This trend is frequently interpreted by traders and experts as a sign of heightened investor interest, which may further drive the price of ADA higher.</p>
<h2 class="wp-block-heading" id="strong-ada-price-prediction-strong"><strong>ADA Price Prediction</strong></h2>
<p>Based on the wedge’s height, the projection for ADA’s potential price increase aligns with the target set by ZAYKCharts, suggesting a rally to around $0.60–$0.65. This range represents a 60-70% rise from the breakout point, consistent with the analyst’s expectations.</p>
<p>This target also aligns with key historical resistance levels, where ADA’s price previously encountered selling pressure. Should the buying momentum continue, ADA could reach these levels in the short term, although profit-taking at the target range could slow down further price gains.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-lido-dao-pumping-expert-outlines-ldo-price-path-to-3/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is Lido DAO Pumping? Expert Outlines LDO Price Path to $3</em></strong><br></a></p>
<h2 class="wp-block-heading" id="strong-support-and-resistance-levels-at-play-strong"><strong>Support and Resistance Levels at Play</strong></h2>
<p>The area around $0.35–$0.37, where the breakout initially occurred, now acts as a new support zone. This range had previously functioned as resistance, and its role reversal could provide a strong base for <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer nofollow">ADA’s price</a> as it moves upward.</p>
<p>The resistance at $0.60, however, may be challenging to surpass without sustained buying pressure. If ADA approaches this range, it could attract profit-taking, potentially leading to a pause in the uptrend unless there is strong market demand to support further gains.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/this-trader-expects-cardanos-ada-price-to-rally-70/" rel="noopener noreferrer nofollow">This Trader ‘Expects’ Cardano’s ADA Price to Rally 70%</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

This Trader ‘Expects’ Cardano’s ADA Price to Rally 70%

Table of Contents

CaptainAltcoin

Other articles published on Nov 7, 2024

FTX co-founder and key witness Gary Wang asks judge for no jail time

Immutable Responds to SEC Wells Notice, Asserts IMX Token is Not a Security

Best Cryptos to Buy Now for Maximum Profit: Top Cryptocurrency Picks (Nov 2024)

Binance Co-Founder Yi He Denies Claims of High Listing Fees on the Exchange

Is This Taking Meme Coins To A Whole New Level?

Bitcoin Price Surge Expected in 2025: Veteran Trader Peter Brandt Projects $130k to $150k

Join our free newsletter for daily crypto updates!