Cardano (ADA) has recovered about two and half years of losses in less than a month.
ADA’s breakout replicates the beginning of the 2020 bull run.
Multiple indicators suggest a further extension of the Cardano rally.
Cardano (ADA) rebounded, recovering two and a half years of losses in less than a month with a 174% surge in the past three weeks. The altcoin’s recent price action has impressed supporters, flipping its trajectory to a significantly bullish mode, as nearly all the technical indicators suggest a buildup of more bullish momentum.
In a podcast, a cryptocurrency analyst compared Cardano’s current price trend to its behavior during the last bull run. He spotted the multiple technical indicators suggesting the upward movement is just beginning and may persist.
Considering the coinciding trend, November 7 becomes a significant date in Cardano’s bull cycle. It marks when Cardano broke into a parabolic uptrend in 2020, only for the altcoin to repeat the same movement exactly four years later. This move saw ADA break above its 20- and 50-week moving averages both times. During the 2020 bull run, Cardano rallied 2,680%, moving from $0.087 to $3.16…
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