Hi Traders!
Today we chose the Cardano coin (ADA) for analysis. Perhaps you have noticed growth on altcoins this week.
It is possible that many altcoins and among them ADA are starting a new cycle. Looking at the daily chart, we can see that early last year ADA began to grow until it reached its peak in the summer. The second half of the year was marked by a decline, which ended with a falling wedge pattern. This pattern is a typical reverse pattern which means it reverses the trend.
On the chart, we can see a clear upward impulse, which is also confirmed by increasing volumes. If our assumption were confirmed and ADA starts a new cycle, it would mean its nearest target of at least $ 0.12 - $ 0.14, an increase of at least 200% over the current price.
May the crypto be with you!
Today we chose the Cardano coin (ADA) for analysis. Perhaps you have noticed growth on altcoins this week.
It is possible that many altcoins and among them ADA are starting a new cycle. Looking at the daily chart, we can see that early last year ADA began to grow until it reached its peak in the summer. The second half of the year was marked by a decline, which ended with a falling wedge pattern. This pattern is a typical reverse pattern which means it reverses the trend.
On the chart, we can see a clear upward impulse, which is also confirmed by increasing volumes. If our assumption were confirmed and ADA starts a new cycle, it would mean its nearest target of at least $ 0.12 - $ 0.14, an increase of at least 200% over the current price.
May the crypto be with you!