Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish

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The analyst highlighted that the market has experienced “180 days of downside” since March, creating favorable conditions for this anticipated surge.  Related Reading: Bitcoin Final Cycle Pump’ Puts Price As High As $200,000 He further suggested that ADA could break its current cycle of lower highs and lower lows, citing key technical indicators, particularly the MACD (Moving Average Convergence Divergence) on the weekly chart, which is showing signs of a bullish crossover.“The macro momentum of Cardano is signaling its readiness to bottom,” he said, emphasizing the upward momentum of the MACD histogram since May.

Key Technical Indicators Support Bullish Outlook According to the analyst in a recent video, ADA is poised for a significant breakout, potentially reaching around $31, representing a remarkable 8,500% increase from current levels.

While some analysts view Dan Gamberdello projections as overly optimistic, crypto analyst Sssebi has offered a more conservative forecast.  He forecasts a rally of 20x to 30x for Cardano over the next year.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Crypto analyst Cardano news Cardano price ADA price Analyst Cardano Adausd Crypto ADA ADAUSDT ADA news Crypto news

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-23 @ 17:00:07 (5 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 449 words

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Sentences: 64 lines

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Copyright Owner: © NewsBTC

News ID: 22664528

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