Altcoin Season Awakes: Can Cardano Lead the Charge and Hit $2.40?
- Altcoin dominance hits support, signaling potential rally for altcoins soon.
- Cardano shows bullish patterns that hint at an upcoming breakout.
- ADA may dip to $0.63 before pushing toward higher resistance levels.
The altcoin market looks set for an interesting few weeks as key market indicators point to the possibility of a big move. Altcoin Dominance has slipped to an important support level, a zone where strong rallies for altcoins have often started in the past.
While Bitcoin’s next move remains uncertain, a handful of altcoins are starting to show strength. Among them is Cardano (ADA), which continues to make news. New chart patterns now hint that ADA could be gearing up for a breakout if an altcoin season kicks off this summer.
Cardano’s Chart Shows Two Key Bullish Breakout Patterns
On the weekly chart, Cardano has been trapped in a falling channel since its peak in December 2024. An analyst explained that this pattern is marked by descending resistance and support levels, with a brief breakout earlier this year following a tweet from Donald Trump. Historically, when assets break out from such falling channels, it often leads to increased volatil…
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Altcoin Season Awakes: Can Cardano Lead the Charge and Hit $2.40?
- Altcoin dominance hits support, signaling potential rally for altcoins soon.
- Cardano shows bullish patterns that hint at an upcoming breakout.
- ADA may dip to $0.63 before pushing toward higher resistance levels.
The altcoin market looks set for an interesting few weeks as key market indicators point to the possibility of a big move. Altcoin Dominance has slipped to an important support level, a zone where strong rallies for altcoins have often started in the past.
While Bitcoin’s next move remains uncertain, a handful of altcoins are starting to show strength. Among them is Cardano (ADA), which continues to make news. New chart patterns now hint that ADA could be gearing up for a breakout if an altcoin season kicks off this summer.
Cardano’s Chart Shows Two Key Bullish Breakout Patterns
On the weekly chart, Cardano has been trapped in a falling channel since its peak in December 2024. An analyst explained that this pattern is marked by descending resistance and support levels, with a brief breakout earlier this year following a tweet from Donald Trump. Historically, when assets break out from such falling channels, it often leads to increased volatil…
The post Altcoin Season Awakes: Can Cardano Lead the Charge and Hit $2.40? appeared first on Coin Edition.
Read More
Hyperliquid (HYPE) Price Prediction: Will the Token Hold Above the Critical $44 Level?