Cardano's price will increase by 15%this week, trading over $ 0.71 during the press. ADA owners can be quite satisfied with this, given that 15% is the largest profit with Doge, outside the top 10 cryptos per market hat.
Popular analyst Javon Marks took time with his 54K followers per X.
History repeats? Cardano triangular patterns
Cardano price chart shows a clear pattern This has happened several times. These patterns are called descending triangles. After every triangle, the price has risen dramatically.
The first triangle was formed from May to December 2022. Kartano The price moved downwards for months. Then the price suddenly jumped up, reaching the beginning of 2023, jumping unexpectedly.
The second triangle appeared from January to July 2023. After months of moving sideways, the price went up. This rally did not last for that long and the price soon fell back.
Now we see the third triangle that began in late 2023. The price has recently moved towards the upper border, suggesting that another outbreak may soon come.
ADA Price: Support and resistance levels
Each triangle has an important support level where the price tends to back up. The last support zone is in the range of $ 0.45-0.50, which has been strongly persisted throughout the 2024 year
The upper lines of these triangles act as a resistance that the price tries to break through. At present, ADA price is approaching Key resistance level is about $ 0.70-0.75.
Trading volume has increased because Ada is potential holiday points. More people buy, which can encourage another big price. After earlier breaks, the volume increased further, showing a strong interest in the coin.
Marks controls it out of his whisper “Cardano mainly pushes another breakthrough and the last result was close to +300%!“He refers to a similar pattern that we have seen before, where the triangle breakthroughs led to a mass price increase.
According to his analysis, Marks sees a potential price range of $ 2.70 to $ 2.91. This would be about 261% of the current level.
Read also: Can Cardano (Ada) achieve $ 3 in 2025? You can find out the data here
Cardano price prediction
If ADA breaks about $ 0.70 from the current obstacle, it can move quickly towards their higher target level. It would reflect what happened after the previous Triangle patterns.
However, if the price is unable to break through and falls back into the triangle, we can see another period or even decline in the side movement that support services are about $ 0.45-0,50.
The Cardano chart pattern and the increasing trading volume refer to Ada for a big move. However, in order to achieve the proposed goals, it would require a strong purchase of purchase and continued high trading volume.
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