Experience a surge in the price of ADA, the native token of the Cardano ecosystem, as it takes advantage of Bitcoin’s stagnation above $52,000. Recent gains of 20% and 14% over the past 30 and 14 days have reignited bullish sentiment among the investors.
ADA’s Potential Bull Run Ahead
Crypto analyst “Trend Rider” makes a bold price prediction for ADA, emphasizing key indicators that point towards a potential long-term bull run for the token.
In a recent social media post on X (formerly Twitter), Trend Rider highlighted ADA’s consolidation above the crucial $0.600 mark, indicating significant prospects for the token’s future. The shift in momentum has been reflected in the shift from pink and fuchsia hues to the more bullish dark blue on the Impulse colors indicator.
Furthermore, Trend Rider highlighted another positive development, with the Wave Oscillator re-entering the positive zone after 20 months, indicating growing bullish momentum for ADA. The key level identified in this context is the $0.60 mark.
These indicators suggest that ADA may be poised for a sustained uptrend, potentially paving the way for a long-term bull run.
Cardano Sustained Bullish Trend
The one-day ADA/USD chart reveals that Cardano’s token has reached a 21-month high of $0.679, marking the beginning of a period of volatility in ADA’s price. Despite a price correction, ADA regained bullish momentum, and its sustained price uptrend indicates a healthy price action and potential long-term growth.
If the current uptrend continues, ADA must overcome significant resistance levels to reach $1, benefiting from the overall market growth expected in the coming months of 2024.
ADA’s establishment of higher lows and higher highs during its price surge indicates a healthy price action and a sustained bullish trend.
Featured image from Shutterstock, chart from TradingView.com
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