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Cardano (ADA) Historical Pattern Hints Major Breakout Ahead: Analyst
The post Cardano (ADA) Historical Pattern Hints Major Breakout Ahead: Analyst appeared on BitcoinEthereumNews.com. Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Cardano (ADA), the ninth largest cryptocurrency by market cap, has been capturing attention recently with its price movements. According to Ali, a crypto analyst, Cardano is following a pattern that is eerily similar to its prior cycle. Ali pointed out that back in 2020, the first major correction after the bull rally began happened at the very same time as the correction we are experiencing today, predicting a price target of $6 if this historical pattern repeats. #Cardano $ADA is following an eerily similar pattern to its previous cycle. Back in 2020, the first major correction after the bull rally began happened at the very same time as the correction we are experiencing today. $6 next! pic.twitter.com/CPrYdQQqyx — Ali (@ali_charts) December 22, 2024 At the time of writing, ADA was down 4% in the last 24 hours to $0.8825 amid Sunday’s sell-off, which has seen $246 million in crypto liquidations. ADA remains down 19% weekly. Following a four-day decline, Cardano rebounded from a low of $0.762 on Friday. The rebound stagnated at $0.997 on Saturday, and the declines continued into Sunday’s session, reaching lows of $0.869 near the daily SMA 50. Related Bulls are attempting to hold this crucial level because failure to do so might send ADA to $0.76. If this support also cracks, ADA may…
The post Cardano (ADA) Historical Pattern Hints Major Breakout Ahead: Analyst appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Cardano (ADA), the ninth largest cryptocurrency by market cap, has been capturing attention recently with its price movements. According to Ali, a crypto analyst, Cardano is following a pattern that is eerily similar to its prior cycle. Ali pointed out that back in 2020, the first major correction after the bull rally began happened at the very same time as the correction we are experiencing today, predicting a price target of $6 if this historical pattern repeats. #Cardano $ADA is following an eerily similar pattern to its previous cycle. Back in 2020, the first major correction after the bull rally began happened at the very same time as the correction we are experiencing today. $6 next! pic.twitter.com/CPrYdQQqyx — Ali (@ali_charts) December 22, 2024 At the time of writing, ADA was down 4% in the last 24 hours to $0.8825 amid Sunday’s sell-off, which has seen $246 million in crypto liquidations. ADA remains down 19% weekly. Following a four-day decline, Cardano rebounded from a low of $0.762 on Friday. The rebound stagnated at $0.997 on Saturday, and the declines continued into Sunday’s session, reaching lows of $0.869 near the daily SMA 50. Related Bulls are attempting to hold this crucial level because failure to do so might send ADA to $0.76. If this support also cracks, ADA may…
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