Cardano (ADA) Price Breaks Out, Analysts Predict Further Gains to $0.42
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Cardano (ADA) price has broken out of consolidation, showing a bullish trend on major timeframes. Analysts believe ADA could reach $0.42 this week.
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ADA recently bounced off support at $0.24 and broke past resistance at $0.33. Next key resistance is at $0.42, the February high.
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Technical analysts like Filbfilb say buying pressure is rising and ADA could continue climbing to hit $0.42. Open interest also trended higher despite volatility.
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On-chain analyst Ali Martinez sees similarities between current ADA price action and 2018-2020. He says breaking $0.47 resistance could trigger a bull run.
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Santiment data shows profits are moving from Bitcoin into altcoins like ADA. They say alts have more room to regain losses vs Bitcoin.