Cardano

Resistance

Dogecoin

Million

Shiba Inu

<p>Cardano’s ADA token has been stuck in a lengthy consolidation period, but its current price action bears striking resemblance to a previous multi-year accumulation range. If history repeats itself, a major upside breakout could be on the horizon.</p>
<p>According to <a href="https://twitter.com/ali_charts/status/1725046363463844078?t=NVhvsyC33q4p1ujHaVYM3Q&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">trader Ali</a>, ADA’s trading range since 2021 looks eerily similar to its consolidation from 2018–2020. The only noticeable difference is the absence of the COVID-induced crash.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="571" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-1024x571.png" alt="" class="wp-image-378004" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-1024x571.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-300x167.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-768x428.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-1536x856.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-2048x1141.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-269x150.png 269w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-628x350.png 628w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383-788x439.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-383.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>During the previous accumulation phase, Cardano traded mostly between $0.03 and $0.10 before going parabolic in 2021.&nbsp;</p>
<p>Based on the symmetry in price action, Ali suggests that <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="ADA" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">ADA</a> could be gearing up for a bullish December. Specifically, he sees Cardano potentially surging above the current $0.45 resistance zone around the first week of December.</p>
<p>This breakout could spark enormous momentum that sends ADA surging toward the $0.75 level by late December. While nothing is guaranteed, the analogous price action adds credence to this constructive outlook.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/how-this-smart-ethereum-whale-earned-over-14-million-in-eth-without-always-buying-low-and-selling-high/" target="_blank" rel="noopener noreferrer nofollow">How This Smart Ethereum Whale Earned Over $14 Million in ETH Without Always Buying Low and Selling High</a></li>
 <li><a href="https://captainaltcoin.com/cardanos-ada-chart-couldnt-look-any-better-as-indicators-flash-bullish-analyst-updates-xrp-outlook/" target="_blank" rel="noopener noreferrer nofollow">Cardano’s ADA Chart “Couldn’t Look Any Better” As Indicators Flash Bullish – Analyst Updates XRP Outlook</a></li>
 <li><a href="https://captainaltcoin.com/have-shiba-inu-and-dogecoin-met-their-match-in-this-memecoin/" target="_blank" rel="noopener noreferrer nofollow">Have Shiba Inu and Dogecoin Met Their Match in This Memecoin?</a></li>
</ul>
<p>Of course, ADA will need to overcome stiff overhead resistance in the low $0.40s first before such bold targets come into play. But if Cardano history is repeating itself, traders may want to keep a close eye on ADA throughout November. The consolidation could be nearing its climax, with fireworks in store for December.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/cardanos-current-consolidation-trend-mirrors-2018-2020-analyst-predicts-major-upswing-by-december-if-ada-breaks-this-resistance/" rel="noopener noreferrer nofollow">Cardano’s Current Consolidation Trend Mirrors 2018-2020; Analyst Predicts Major Upswing by December if ADA Breaks This Resistance</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Cardano’s Current Consolidation Trend Mirrors 2018-2020; Analyst Predicts Major Upswing by December if ADA Breaks This Resistance

Table of Contents

CaptainAltcoin

Other articles published on Nov 16, 2023

Bitget lists Neutron (NTRN) in the Innovation Zone and Cosmos Ecosystem Zone

Boxing Legend Manny Pacquiao Joins the Shiba Inu Ecosystem

Ripple General Counsel Claims SEC Losing Legal Battle

Bitcoin Struggles to Break the $38,000 Resistance Level

SEC delayed Hashdex and Grayscale Ethereum futures ETF!

Jumia records EBITDA loss of $15 million in Q3, the lowest since its IPO in 2019

Join our free newsletter for daily crypto updates!