Cardano is currently grappling with a crucial level, and if it clears the tension of this overhead barrier, then Cardano prices are liable to climb higher.
The Cardano price has shown strong support around these interim periods before popping higher or crashing down again, depending on what happens next. This week it made a bullish breakout, and the ADA price jumped 20% over this month’s low to reach $2.23.
Cardano is a digital currency that operates on the blockchain. It has been under attack for weeks, but it’s still going strong and maintaining its rank as one of the most secure blockchains out there.
As the market’s growth continues, there are signs that it may be poised for a breakout. A triangle pattern has formed, suggesting an upcoming price increase as investors anticipate higher prices ahead of what looks to be another upside move soon.
Cardano Price Prediction
As we can see in the weekly ADA chart, Ada has already started to run. An asymmetrical triangle is forming, which may indicate where the coin will go next with the price movements.
If a breakout is successful, Cardano price could then be set to rally toward their next target at $2.53 or even higher depending on how strong an appetite there is in buying around this level. However, if the trend continues, then the next crucial point might be $3.
The coin has now been confirmed as a bullish breakout. It broke out of its triangle pattern and moved above it, supported by both 25-day MA’s and 50-day moving average, which tells us that the trend will most likely continue with more buying pressure from bulls targeting higher prices at their all-time high levels.
As ADA has broken out of its trading pattern and I expect this currency to reach $3.
