Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout


17 Nov 2023 11:00 PM

Cardano may not be a top gainer in the crypto market but that does not mean that it has fallen behind and ADA has rallied....

  • Cardano's native coin ADA has experienced a positive trend during the altcoin rally, going from $0.25 to almost $0.4 before correcting downwards.
  • The price of ADA is currently stuck in a falling wedge pattern, identified by a crypto analyst on TradingView.
  • Breaking out of this pattern could lead to a massive rally, with a price target of over $0.7 and a potential rise of 100%.
  • ADA whales, large investors, have been increasing their activity on the Cardano network, with a significant increase in large transactions and transaction volumes.

The sentiment in the article is generally positive, highlighting the positive trend of Cardano's ADA, the potential for a rally, and the increased activity of ADA whales.

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You May Ask

What is the current price range of Cardano's native coin ADA?What pattern is holding back Cardano's price from mounting a full-blown rally?What is the price target after breaking out of the falling wedge pattern?How have ADA whales been increasing their activity on the Cardano network?What does the increase in large transactions and transaction volumes suggest about the market anticipation for Cardano?

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