Cardano (ADA) surges by 11.58%, driven by a double bottom at $0.49. Breaking key resistances and finding support at the 50-day moving average confirm the uptrend. Next targets : $1.19 and $1.32.
Cardano (ADA) has surged by 11.58%, breaking through a significant technical resistance and confirming the formation of a double bottom at $0.49. This chart pattern, known for signaling a trend reversal, paves the way for new bullish perspectives.
As long as the long-term support at $0.49 holds firm, Cardano (ADA)’s bullish market structure remains intact. A breakthrough of the current high should likely trigger a push toward $1.19. If this resistance is overcome with significant volume, the path to $1.32 would then become highly probable.
Cardano currently displays solid bullish momentum, with a sequence of higher highs and higher lows confirming the positive trend. The 50-day moving average acts as dynamic support, strengthening the outlook for a continued uptrend.
This technical analysis highlights the optimism regarding ADA’s future trajectory, provided this positive momentum maintains. Savvy investors will keep a close eye on upcoming developments in the Cardano market.
The market is awakening and altcoins like ADA could explode soon. A rise to $3 is far from being too ambitious.
Such an increase would offer potential gains of 4x from its current price. Here’s how to take advantage by easily buying ADA on Bitget :
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