We are seeing an exciting long setup for Cardano ($ADA /USDT) on the 1-hour chart, where a bull flag pattern is unfolding. This pattern is a classic bullish continuation signal, highlighting a potential upward breakout after a brief consolidation. The price action has been consolidating in a tight range between two descending trendlines, following a steep rally upwards.
The ๐๐จ๐ฅ๐ฅ๐ข๐ง๐ ๐๐ซ ๐๐๐ง๐๐ฌ indicate a period of low volatility, suggesting that a breakout is imminent. The Stochastic RSI is currently at 74.69, pointing to continued upward momentum, though itโs approaching overbought levels. Meanwhile, the ๐๐๐ Divergence Indicator sits at 41.47, remaining neutral and leaving room for further price appreciation. Should the price break above the $1.0633 resistance level, we expect a strong bullish push towards $1.2536, confirming the positive market trend.
Additionally, on the ๐๐๐๐๐๐ ๐ฐ๐๐๐ค๐ฅ๐ฒ ๐๐ก๐๐ซ๐ญ the overall altcoin market shows significant bullish potential. A cup-and-handle pattern has formed and completed successfully, with a retest at the neckline around $1.04T. The Bollinger Bands show increasing expansion, signaling rising volatility, which often precedes upward price movement.
The ๐๐ญ๐จ๐๐ก๐๐ฌ๐ญ๐ข๐ ๐๐๐ ๐๐ญ ๐๐.๐๐ is in overbought territory, but the momentum continues to drive the market, indicating that the upward trend is likely to persist. The RSI Divergence Indicator at 71.59 further supports the bullish outlook, suggesting that strong buying power remains in the market. If this trend holds, the total market cap could surge towards the $2T target, positively influencing altcoins like ADA.
Market Sentiment & Liquidity Analysis: The ADA/USDT liquidation heatmap shows strong liquidity zones near the $1.10 mark, which could act as a key level for upward price movement. The presence of resistance liquidation suggests a bullish breakout, with a clear accumulation of buyers, potentially leading to significant gains. As the price consolidates, it builds up momentum, increasing the likelihood of a breakout above the current resistance levels.
๐๐ซ๐๐๐ ๐๐๐ญ๐ฎ๐ฉ:
Entry: Around $1.0317 or at the current market price
First Target (TP1): $1.1113
Second Target (TP2): $1.1734
Third Target (TP3): $1.2459
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