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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