Cardano

<p>The post <a href="https://cryptosnewss.com/cardanos-ada-poised-for-1200-increase-with-strongest-buy-signal-yet/" rel="noopener noreferrer nofollow">Cardano’s ADA   Poised for 1,200% Increase with Strongest Buy Signal Yet</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.</p><p>The native token of the <a href="https://cryptosnewss.com/cardanos-bullish-run-how-ada-could-skyrocket-to-31-according-to-analysts/" rel="noopener noreferrer nofollow">Cardano</a> blockchain, ADA, has experienced a significant decline in value this year, losing around 35% and currently trading below the $0.4 mark at $0.38. Despite this downturn, a prominent cryptocurrency analyst has identified a strong buy signal that could indicate a major price surge for ADA.</p><p>According to the analyst, known as TradingShot on TradingView, Cardano has just flashed the “strongest buy signal in a year” with the formation of a bullish cross on the one-week Logarithmic Moving Average Convergence Divergence (1W LMACD). This bullish pattern, appearing for the first time since October 2023, suggests a significant shift in momentum for ADA.</p><h3 id="technical-indicators-point-to-a-bullish-trend">Technical Indicators Point to a Bullish Trend</h3><p>The analyst highlighted several key technical indicators supporting this bullish outlook. ADA has been consolidating below its 50-week moving average since May, which is often a precursor to a breakout. Additionally, the 1-week Relative Strength Index (RSI) has been ranging since May, mirroring conditions seen during the previous bull cycle.</p><p>In the last bull cycle, a similar bullish megaphone pattern emerged on the 1W LMACD bullish cross, followed by a bottom formation triggered by a 1W MA50/MA100 bullish cross while the 1W RSI was in a consolidation phase. These recurring technical indicators suggest that ADA might be gearing up for a massive price rally.</p><h3 id="potential-for-a-parabolic-rally">Potential for a Parabolic Rally</h3><p>Based on these technical signals, TradingShot predicts that ADA could start a new parabolic rally, potentially reaching the $5 mark. This would represent a rise of over 1,200% from its current price. The last time such a bullish divergence was observed, ADA rallied 1,000% against Bitcoin, four years ago.</p><h3 id="market-sentiment-and-analyst-opinions">Market Sentiment and Analyst Opinions</h3><p>The broader market sentiment also seems to be turning positive for ADA. Popular cryptocurrency analyst Dan Gambardello recently suggested that ADA could rally over 1,000% against Bitcoin based on an “insane bullish divergence”. However, not all analysts are as optimistic. Another analyst, Deezy.eth, predicts a more conservative target, suggesting that ADA will hit $1 before December 25, 2024.</p><h3 id="conclusion">Conclusion</h3><p>While the cryptocurrency market remains volatile and unpredictable, the technical indicators and analyst predictions point to a potentially significant upward movement for Cardano’s ADA. Investors and traders will be closely watching these developments, hoping for a repeat of the previous bull cycle’s gains.</p><p>The post <a href="https://cryptosnewss.com/cardanos-ada-poised-for-1200-increase-with-strongest-buy-signal-yet/" rel="noopener noreferrer nofollow">Cardano’s ADA Poised for 1,200% Increase with Strongest Buy Signal Yet</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.</p><p></p>

Cardano’s ADA Poised for 1,200% Increase with Strongest Buy Signal Yet

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