đđ Why This Analyst Thinks Cardano Price Rally to $3 is Inevitable
đ Cardano price jumped 0.8% during the U.S. trading session on Tuesday, reaching $0.36 with a market cap of $12.7 billion. This uptick aligns with broader market recovery, but a crypto analyst believes ADA's rally to $3 is inevitable.
đ Why Analyst Thinks Cardano Price Rally is Inevitable
Crypto analyst Trendrider recently pointed out a bullish outlook for ADA, noting the Chaikin Money Flow (CMF) indicator shows increased buying pressure. The indicator's positive shift suggests a potential bullish momentum, avoiding a lower low on the weekly chart.
đ Past Indicators
In late 2020, the CMF switch to a positive region signaled ADA's uptrend, leading to its all-time high of $3.1.
đ Cardano Founderâs Vision
At the Cardano Summit 2024, Charles Hoskinson predicted that Cardano could surpass Bitcoin and Ethereum in influence, with major governments possibly adopting its reliable and secure infrastructure.
đ ADA Price Analysis
Cardano has traded sideways within a symmetrical triangle over the past three months. If ADA breaks the resistance, it could surge 48% to $0.57. However, a bearish breakdown could lead to further correction.
