Cardano

Rally

Bitcoin ETF

Edge

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/GC8j4YzU-e1701110256837.png" class="attachment-full size-full wp-post-image" alt="ADA price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Cardano Price Prediction: in the last two weeks, the crypto market has witnessed high volatility, triggered by events concerning the Bitcoin ETF and the <a href="https://coingape.com/binance-ceo-richard-teng-discloses-comprehensive-plan-for-crypto-exchange/">legal issues surrounding Binance</a>. As a result major cryptocurrencies, including Cardano, have been trading sideways reflecting uncertainty among traders. However, a closer examination of the daily chart reveals that this consolidation phase aligns with a broader bullish pattern known as a pennant. 
Also Read: <a href="https://coingape.com/ai-integration-deepens-in-cardano-with-girolamo-chatbot-launch/">AI Integration Deepens in Cardano with Girolamo Chatbot Launch</a> 
<h2 id="b-will-ada-price-surpass-0-5-barrier-b">Will ADA Price Surpass $0.5 Barrier?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A bullish breakout from the triangle pattern will intensify the buying momentum.</li> 
 <li style="font-weight: 400;" aria-level="1">The post-correction could asset buyers to surpass $0.5</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the ADA coin is $246 Million, indicating a 10% gain</li> 
</ul> 
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/g/GC8j4YzU.png" alt="Cardano Price Prediction" width="1946" height="1105">Source- Tradingview 
The <a href="https://coingape.com/price/cardano/">Cardano price</a> recovery encountered a major roadblock around the $0.4 level, resulting in a consolidation phase due to overhead supply. This sideways movement, characterized by alternating green and red candles, signifies a lack of significant initiative from buyers or sellers. 
Nevertheless, this <a href="https://coingape.com/markets/where-cardano-price-is-heading-by-november-end/">consolidation fits within two converging trendlines</a>, forming a bullish pennant pattern. This pattern suggests that buyers are gathering strength after the previous bullish momentum exhaustion, preparing for a potential upward move.&nbsp; 
<blockquote>
 A recent reversal from the pattern’s overhead trendline has led to the current trading price of $0.377. Given these circumstances, it’s probable that the altcoin price will continue to consolidate for several days before a decisive breakout.&nbsp;
</blockquote> 
A breakout above the overhead trendline could indicate a continuation of the bullish trend, aiming for an initial target of $0.67, marking a 20% increase, followed by an extended recovery towards $0.55. 
<h2 id="b-ada-vs-btc-performance-b">ADA vs BTC Performance</h2> 
<img decoding="async" class="aligncenter size-full wp-image-166392" src="https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27.png" alt="" width="1920" height="1080" srcset="https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27.png 1920w, https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27-300x169.png 300w, https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27-1224x689.png 1224w, https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27-768x432.png 768w, https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27-1536x864.png 1536w, https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27-678x381.png 678w, https://coingape.com/wp-content/uploads/2023/11/image_2023-11-28_00-05-27-150x84.png 150w" sizes="(max-width: 1920px) 100vw, 1920px">Source: Coingape| Cardano Vs Bitcoin Price 
Analyzing the price behavior of Cardano and Bitcoin over the last three months, both witnessed significant growth during the October-November rally. However, a closer look reveals the ADA witnessed higher volatility and sharper price movements, making it a less favorable choice for risk-averse traders compared to Bitcoin, which has exhibited a more consistent rally. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: A bearish crossover state between the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> and signal line project correction trend is active.&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">Bollinger Band: The shrunk range of the <a href="https://coingape.com/education/bollinger-band/">Bollinger Band indicator</a> accentuates high volatility before a directional rally.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/cardano-price-prediction-as-ada-edge-close-to-45-rally/">Cardano Price Prediction As $ADA Edge Close to a 45% Breakout Rally</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Cardano Price Prediction As $ADA Edge Close to a 45% Breakout Rally

목차

Coingape News Media

2023년 11월 27일에 게재된 다른 기사

Bitcoin holder claims hacker stole 139 BTC, paid record $3m in fees

The Power of Chatbots for Small Businesses

5 Key Drivers Behind Bitcoin’s Recent 18-Month Price Peak

Zipmex Halts Digital Asset Trading in Thailand to Comply with Regulatory Requirements

Circle Partners With SBI Holdings to Promote USDC Circulation in Japan

How to get AS Roma Fan Token?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!