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Cryptocurrency News Articles
Cardano (ADA) Price Prediction: ADA Primed to Explode by 40% as Accumulation Reaches Fever Pitch
Sep 25, 2024 at 05:01 pm
The ADA price is slowly rising above the bearish captivity. The weekly MACD displays a massive drop in the selling pressure while the levels are about to undergo a bullish crossover.
As the trade approaches month-end, market dynamics appear to be shifting frequently. While Cardano's recent performance bodes well for a strong uptrend, technical indicators suggest a period of consolidation before buying pressure builds.
Despite a breakout in 2023, hinting at a crucial role in determining the next course of action, ADA price needs to validate the breakout by meeting specific conditions.
Cardano's weekly chart indicates a slow rise above bearish captivity, with the weekly MACD showing a significant drop in selling pressure and hinting at a possible bullish crossover.
However, the Ichimoku cloud still flashes bearish signals with minimal chances of a bullish crossover in the short term, suggesting an extended period of consolidation.
Despite a massive drop in volatility, Cardano price remains stuck within the top 10 crypto rankings. The token is currently encountering resistance at the 50-day SMA & EMA, and a drop in volume suggests short-term pullbacks before initiating a strong upward movement.
Overall, ADA price is expected to rally soon and could potentially reach a new ATH in 2025.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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