Cardano

The post <a href="https://coinpedia.org/price-analysis/breakout-alert-ada-price-tops-0-40-heres-the-next-target/">Breakout Alert! ADA Price Tops $0.40, Here’s The Next Target!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Maintaining a bullish phase for more than a month, the ADA price prolongs the uptrend with a new breakout rally. The increased buying activity amongst altcoins drives the Cardano market value closer to $0.40 and teases a bull run to $0.450. 
Following the 6.72% jump on Wednesday, the 8th biggest crypto per market cap, Cardano, gains better traction. Due to such breakout events, the <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/">Cardano price predictions</a> tease a price jump to $0.50 in 2023.&nbsp; 
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 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/11/24113948/ADAUSD_2023-11-24_11-13-37-1024x463.png" alt="" class="wp-image-248170" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/24113948/ADAUSD_2023-11-24_11-13-37-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/24113948/ADAUSD_2023-11-24_11-13-37-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/24113948/ADAUSD_2023-11-24_11-13-37-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/24113948/ADAUSD_2023-11-24_11-13-37-1536x695.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/24113948/ADAUSD_2023-11-24_11-13-37-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/24113948/ADAUSD_2023-11-24_11-13-37.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
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Source – <a href="https://www.tradingview.com/x/yeIqK6ni/">Tradingview</a> 
Following the reversal from $0.24, the ADA price trend gives a triangle breakout and continues to surpass multiple resistances. The bull run within the past 40 days brings the year-to-date growth rate to 61% and teases further growth for the rest of 2023. 
Over the past couple of weeks, Cardano has formed a consolidation range between $0.35 and $0.385. This highly volatile range formation finally put the ADA price trend on a bullish highway as buyers overcome the overhead supply.&nbsp; 
With a double bottom reversal fueled by market recovery, the uptrend in Cardano challenges the $0.40 mark. Currently, the ADA price trades at $0.393 with an intraday gain of 1.55%, as the trend sustains above $0.385.&nbsp;This reflects the price trend sustaining bullish momentum and increases the possibility of an uptrend. 
Technical indicators: 
MACD indicator: The short-term consolidation fueled a bearish crossover in the MACD and signal lines. However, the recent breakout in Cardano increases the chances of the average line regaining the positive alignment.&nbsp;&nbsp; 
EMA: The golden crossover in the daily chart gains a bullish gap that increases the likelihood of an uptrend continuation.&nbsp; 
<h2 class="wp-block-heading" id="h-will-ada-price-reach-0-45">Will ADA Price Reach $0.45?</h2> 
As the uptrend gains momentum with a bullish breakout, the ADA price is ready to surpass the $0.45 mark. However, the $0.41 breakout will be a more credible signal of the bull run reaching the $0.45 mark. 
Conversely, a sharp reversal in Cardano from $0.41 can retest the $0.385 breakout.

Breakout Alert! ADA Price Tops $0.40, Here’s The Next Target!

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