Cardano Price Monthly Charts Suggest Steady Bullish Momentum
Cardano ($ADA ) price short-term bubble risk indicator has alerted the community after hitting a ‘2’. It suggested that a bubble pop was imminent, warning traders of a potential short-term pullback despite ADA’s price surge.
Despite Cardano signaling caution due to a short-term bubble risk rated at 2, the monthly charts offered a contrasting bullish perspective.
The Cardano price trajectory on these charts was on the verge of flipping the $0.85 resistance into a support level, which could potentially ignite an upward rally.
Historically, the resistance flips in Cardano have often led to significant price movements, suggesting that overcoming the $0.85 mark could set the stage for further gains.
The risk indicator above 1.5 generally hinted at increased bubble risk, typically causing traders to proceed with caution.
Now Cardano is trading around $1.0283 decrease -5. 56% in last 24H.