Cardano

Rally

bullish

<ul class="wp-block-list">
 <li>Cardano aims for $0.85 after breaking key resistance, fueled by strong bullish momentum and high trading volume.</li>  
 <li>A symmetrical triangle breakout signals a potential 15.26% rally, with ADA holding above $0.72, showing positive market sentiment.</li>  
 <li>If ADA sustains above $0.77, it could target $1.20 to $1.40 in the coming weeks, with historical price behavior backing future gains.</li> 
</ul>  
Cardano showed strong upward momentum as it broke through critical resistance levels, aiming for $0.85. The recent price action displayed a symmetrical triangle breakout, signaling a potential 15.26% rally. <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer nofollow">Current trading</a> activity suggests bullish sentiment as ADA trades at $0.7341 with a robust volume of 736,000 units. A notable green candle on November 15 marked the start of this upward push.  
<h2 class="wp-block-heading" id="h-bullish-momentum-drives-price-toward-new-highs">Bullish Momentum Drives Price Toward New Highs</h2>  
The ADA/USDT trading chart reveals a clear shift from bearish to neutral <a href="https://cryptonewsland.com/shiba-inu-breaks-out-of-descending-triangle-signals-potential-bullish-run/" target="_blank" rel="noopener noreferrer nofollow">sentiment within the triangle formation</a>. Buyers consistently defended the $0.70 support level, forming higher lows and tightening the trading range.  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf6lwBQwYUhGPiFmkSY4KKziPLOvvT_8Osy6bcRknXEw7AY-JzwqoCrQYEzwFDIsyaV5akAIoegOh5lCvSo5SavQORJrfuqvcHbckRreNrfOtKk77k-OF88EgOpX5MyaEovasHjww?key=c09SwH29Vw27ammE6HukeCi5" alt="">
</figure>  
Source: <a href="https://x.com/TheMoonCarl/status/1858192773016420603" target="_blank" rel="noopener noreferrer nofollow">The Moon</a>  
Besides, the breakout above the resistance trendline occurred with increased volume, confirming stronger buying interest. Consequently, the price consolidated between $0.70 and $0.80 over the past three days, maintaining steady progress.  
Moreover, small-bodied candles during the consolidation reflected balanced market activity, while green candles at lower levels signaled growing buyer control. With prices hovering above $0.72, market participants anticipate a continued move toward the $0.85 target.  
<h2 class="wp-block-heading" id="h-weekly-insights-long-term-prospects">Weekly Insights: Long-Term Prospects</h2>  
According to analyst <a href="https://x.com/ihsanagaz/status/1858424844918104356" target="_blank" rel="noopener noreferrer nofollow">Ihsan Agaz</a>, Cardano touched $0.77, testing resistance levels with high volume. If this momentum persists, ADA could target $1.20 to $1.40 in the coming weeks. However, failure to sustain above $0.77 may lead to a pullback toward $0.60.  
Significantly, the ADA/USDT weekly chart highlights strong buying momentum following a prolonged consolidation phase of around $0.40 in 2023. Trading volumes surged as prices broke multiple resistance levels, establishing $0.80 as a critical zone. Besides, historical data shows accumulation phases between $0.20 and $1.20, showing ADA’s cyclical price behavior.  
Furthermore, ADA’s recent 10.85% surge aligns with broader bullish trends. Clear market structure development and <a href="https://cryptonewsland.com/altcoin-market-signals-bullish-reversal-analysts-recommend-strategic-buying/" target="_blank" rel="noopener noreferrer nofollow">increased trading volumes signal optimism </a>for further upside. Hence, the breakout's validity suggests Cardano could achieve significant gains if the $0.77 level is held. 
The post <a href="https://cryptonewsland.com/ada-targets-0-85-after-symmetrical-triangle-breakout-eyes-15-rally/" rel="noopener noreferrer nofollow">ADA Targets $0.85 After Symmetrical Triangle Breakout, Eyes 15% Rally</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

ADA Targets $0.85 After Symmetrical Triangle Breakout, Eyes 15% Rally

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