Cardano (ADA) All Set for a 10x Rally to $10, Says Top Analyst
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- On-chain data shows Cardano whales with a balance of at least 100 million coins have accumulated 200M ADA in the last 2 days.
- The upcoming Midnight Upgrade will boost Cardano’s on-chain activities, and further bolster the bullish outlook.
- Technical analysis suggests the ADA/USD pair has followed a similar fractal pattern to the 2021 bull cycle.
Cardano (ADA) price has gradually signaled a midterm and macro bullish outlook. The large-cap altcoin, with a fully diluted valuation of about $36.9 billion, rallied 12% in the last seven days to trade at about $0.822 on Monday, August 11, during the early London session.
This recent rebound was marked by a daily “golden cross” between the 50 and 100 Simple Moving Averages. That mid-term bullish sentiment is being reinforced by the weekly MACD indicator, which has also flashed a buy signal.
Today’s ADA Outlook: The long-term chart looks bullish, but what about right now? Here’s CoinEdition’s specific price prediction for ADA today, August 9.
Notably, the weekly MACD line and the Signal line crossed above the zero line amid the rising bullish histograms. Meanwhile, the…
The post Cardano (ADA) All Set for a 10x Rally to $10, Says Top Analyst appeared first on Coin Edition.
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