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Cardano Might See A Massive Pump Around November 18 – Analyst Exposes 2020 Similarities

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Cardano Might See A Massive Pump Around November 18 – Analyst Exposes 2020 Similarities - NewsBTC

Quick Summary:

Cardano (ADA) is also at a critical juncture, showing striking similarities to its price action in 2020—a year that saw ADA skyrocket by over 4,000% in under 12 months.  Related Reading: If Dogecoin Breaks Above Key Resistance We Could See A 25% Rally’ – Top Analyst Renowned analyst Ali Martinez recently shared a technical analysis comparing ADA’s current market structure to November 2020.

Cardano’s current price level has attracted a mix of institutional and retail investors seeking opportunities before what could be a substantial move.  With both on-chain data and technical indicators supporting a bullish outlook, ADA’s upcoming price action may set the tone for the altcoin market in the coming months.

Well-known analyst Ali Martinez recently shared a technical analysis on X, comparing Cardano’s current price behavior and its pattern in 2020—a year in which ADA experienced an extraordinary 4,000% surge.  According to Martinez, Cardano’s price action is displaying a similar setup, suggesting the possibility of a breakout around November 18, roughly two weeks after the U.S.elections.


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Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets:

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Article Type: News Report

Published On: 2024-10-29 @ 18:00:28 (2 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 634 words

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Sentences: 65 lines

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Copyright Owner: © NewsBTC

News ID: 23331286

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