Top Analyst Says Cardano Is Heading in the Right Direction, Shares Next Likely Breakout Target
- Cardano is attempting to break out of a descending flag pattern.
- Analysts project ADA could reach $1.13–$1.32 if the breakout holds.
- Long-term risk models suggest the Cardano bull run may still be in its early stages.
Cardano is gaining momentum with the possibility of a breakout above a key resistance level. A recent chart suggests a bullish flag breakout that could lead to higher prices. Analyst Lucky Luciano, for instance, points to a recent chart formation indicating a bullish flag breakout that could propel ADA prices higher.
In a tweet, analyst Lucky Luciano shared a one-day chart of Cardano and noted that the coin “seems to be in the right direction.”
Analyst Luciano Spots Potential ADA Bull Flag Breakout
Luciano’s chart notably shows Cardano forming a bullish breakout pattern. ADA had been trapped in a descending flag channel for several months. This consolidation pattern formed following a significant rally in late 2024 that lifted ADA’s price from below $0.40 toward $1.32.
The chart showed ADA moving above the $0.6816 level. This move puts it above the upper boundary of the downtrend, often interpreted as a signal that bearish pressure ma…
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Top Analyst Says Cardano Is Heading in the Right Direction, Shares Next Likely Breakout Target
- Cardano is attempting to break out of a descending flag pattern.
- Analysts project ADA could reach $1.13–$1.32 if the breakout holds.
- Long-term risk models suggest the Cardano bull run may still be in its early stages.
Cardano is gaining momentum with the possibility of a breakout above a key resistance level. A recent chart suggests a bullish flag breakout that could lead to higher prices. Analyst Lucky Luciano, for instance, points to a recent chart formation indicating a bullish flag breakout that could propel ADA prices higher.
In a tweet, analyst Lucky Luciano shared a one-day chart of Cardano and noted that the coin “seems to be in the right direction.”
Analyst Luciano Spots Potential ADA Bull Flag Breakout
Luciano’s chart notably shows Cardano forming a bullish breakout pattern. ADA had been trapped in a descending flag channel for several months. This consolidation pattern formed following a significant rally in late 2024 that lifted ADA’s price from below $0.40 toward $1.32.
The chart showed ADA moving above the $0.6816 level. This move puts it above the upper boundary of the downtrend, often interpreted as a signal that bearish pressure ma…
The post Top Analyst Says Cardano Is Heading in the Right Direction, Shares Next Likely Breakout Target appeared first on Coin Edition.
Read More