Token

Cardano

Millions

Resistance

Momentum

<p>Following years of lackluster price action and stagnating development, signs of a potential trend change are emerging for Cardano (ADA). Both chart analysts and market experts have taken notice of recent bullish moves for the long-criticized blockchain project, with some now calling for a run toward the symbolic $1 mark.</p> 
<h2 class="wp-block-heading" id="strong-bullish-market-structure-takes-shape-strong"><strong>Bullish Market Structure Takes Shape</strong></h2> 
<p>According to crypto YouTube analyst <a href="https://twitter.com/CryptoBusy/status/1759583388552601978" target="_blank" rel="noreferrer noopener nofollow">CryptoBusy</a>, Cardano’s market structure has strengthened considerably in recent weeks. With <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="ADA" data-wpil-keyword-link="linked" target="_blank">ADA</a> breaking decisively above the multi-year resistance around $0.55, the path looks clear for prices to ascend in a new uptrend. Immediate upside confirmation above $0.67 would solidify this viewpoint.</p> 
<p>If breached, CryptoBusy’s analysis suggests little stands in the way of a rapid recovery back toward range highs around $1. With investor sentiment showing early signs of rotating back in favor of left-behind altcoins like ADA, the environment may prove ripe for such an explosive move.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="483" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-1024x483.png" alt="" class="wp-image-440809" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-1024x483.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-300x142.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-767x362.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-1536x725.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-2048x967.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-318x150.png 318w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-741x350.png 741w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730-788x371.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-730.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<h2 class="wp-block-heading" id="strong-key-resistance-breach-opens-door-for-continuation-strong"><strong>Key Resistance Breach Opens Door for Continuation</strong></h2> 
<p>Expanding on the recent price action, algorithmic analysis by data platform altFINS identifies a bullish breakout from a technical downtrend channel that constrained Cardano for most of 2022. Their initial upside target of $0.65 – which would mark a 17% gain – was swiftly met.</p> 
<p>Now, traders must wait for validation above formidable resistance at $0.68 to signal sustainable upside follow-through. Alternatively, a pullback to $0.46 would present another attractive swing trade entry point, according to altFINS. But across all timeframes, the trend reads as definitively bullish.</p> 
<p>With positive momentum also confirmed via technical indicators like the MACD and RSI, the indications for further continuation after a healthy pullback appear in place.</p>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<h2 class="wp-block-heading" id="strong-overbought-conditions-could-fuel-further-momentum-strong"><strong>Overbought Conditions Could Fuel Further Momentum</strong></h2> 
<p>Adding context to the recent surge, Cardano’s daily relative strength index (RSI) now prints at an elevated 71 reading. This signals extremely overbought conditions in the short-term that often precede minor pullbacks.</p> 
<p>However, for longer-term trend traders, high daily RSI levels often mark the early stages of new uptrends rather than tops. The theory goes that the most explosive upside moves start at levels where weak hands have already sold out, leaving only committed bulls.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="966" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-1024x966.png" alt="" class="wp-image-440801" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-1024x966.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-300x283.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-767x724.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-1536x1449.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-2048x1932.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-159x150.png 159w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-100x94.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-371x350.png 371w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729-788x743.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-729.png 1432w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>If ADA manages to consolidate around current levels rather than crash sharply lower, the technical base would strengthen considerably. Some investors also specifically target tokens with a daily RSI above 70 that show signs of holding up.</p> 
<p>Traders well-versed in past crypto market cycles can recall the ferocity of altcoin upside when investor sentiment shifts aggressively. In those conditions, technical and on-chain analytics provide the blueprint, but extreme underlying moves dwarf even exaggerated price targets.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/kaspas-kas-token-soars-to-new-heights-surpassing-cosmos-atom-and-theta-tao/" target="_blank" rel="noreferrer noopener">Kaspa’s KAS Token Soars to New Heights, Surpassing Cosmos (ATOM) and Theta (TAO)</a></li> 
 <li><a href="https://captainaltcoin.com/filecoin-fil-eyes-tripling-to-25-as-technicals-turn-bullish-and-solana-partnership-catalyzes-growth/" target="_blank" rel="noreferrer noopener">Filecoin (FIL) Eyes Tripling to $25 as Technicals Turn Bullish and Solana Partnership Catalyzes Growth</a></li> 
 <li><a href="https://captainaltcoin.com/the-5-best-altcoins-to-watch-in-february-2024-which-altcoin-will-explode-in-2024/" target="_blank" rel="noreferrer noopener">The 5 Best Altcoins to Watch in February 2024: Which Altcoin Will Explode in 2024?</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" 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-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-nuggetrush-nugx-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check NuggetRush ($NUGX)</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </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/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy NUGX Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/analyst-says-cardano-must-break-this-level-to-confirm-uptrend-to-1-ada-market-structure-looks-promising/">Analyst Says Cardano Must Break This Level to Confirm Uptrend to $1: ‘ADA Market Structure Looks Promising’</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Analyst Says Cardano Must Break This Level to Confirm Uptrend to $1: ‘ADA Market Structure Looks Promising’

Table of Contents

CaptainAltcoin

Other articles published on Feb 20, 2024

Burn & Mint Smart Contract

New Record in Bitcoin and Altcoins! Institutional Investors Expect a Fall in These Two Altcoins W...

JPMorgan Reveals the Biggest Threat to Bitcoin

U.S. Army Adopts AI-Powered Wearable Computers for Better Battlefield Medicine

Ocean Protocol’s Price Surge Offers Buying Opportunity

Altcoin Investors Reap Profits but Face Uncertain Market Stability

Join our free newsletter for daily crypto updates!