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>
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   <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>
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<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>
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<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%

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