Logo
Cardano Ecosystem

CryptoNewsLand

02/20/2024

·

42 views


Cardano's Bullish Momentum Signals Potential Long-Term Growth

published: February 21, 2024 at 03:00 AM GST updated: February 21, 2024 at 02:57 AM February 21, 2024 at 03:00 AM...

Cardano's Bullish Momentum Signals Potential Long-Term Growth

published: February 21, 2024 at 03:00 AM GST updated: February 21, 2024 at 02:57 AM

February 21, 2024 at 03:00 AM GST updated: February 21, 2024 at 02:57 AM 2 mins read News

  • ADA experiences a notable surge amid Bitcoin stagnation, with gains of 20% in thirty days.
  • An analyst highlights ADA’s potential long-term bull run, citing key indicators like Impulse colors and Wave Oscillator.
  • ADA aims to consolidate above the $0.600 mark, facing resistance levels before potentially reaching $1.

Cardano (ADA) has surged significantly, capitalizing on Bitcoin’s relative stability above the $52,000 threshold. Over the past month, ADA has seen a remarkable 20% increase in value, a trend that has sparked renewed optimism among investors. 

Read CRYPTONEWSLAND on Google News google news

This surge comes amidst observations from crypto analysts, who are pointing towards indicators suggesting a potential long-term bullish trajectory for ADA. One analyst, known as “Trend Rider,” has drawn attention to several key indicators indicating ADA’s potential for sustained growth. 

🚨 $ADA is gaining the momentum needed for a new bull run.

The last time we witnessed such a shift in momentum was at $0.03.

This indicator, Impulse colors, tracks the price distance from key moving averages.

Throughout the bear market, we predominantly saw fuchsia… pic.twitter.com/AbMqj0s0wT

— Trend Rider (@TrendRidersTR) February 20, 2024

These indicators include Impulse colors, a tool tracking price movements relative to key moving averages, and the Wave Oscillator, which has recently entered into positive territory after nearly two years. The analyst highlights the significance of ADA consolidating its position above the critical $0.600 mark, which could serve as a catalyst for a prolonged uptrend.

Chart analysis reveals that ADA reached a 21-month high of $0.679 in late December, marking the onset of a period of increased volatility. Despite a subsequent correction that saw ADA dip to $0.449 in January, the token has since regained bullish momentum. 

However, challenges lie ahead as ADA encounters resistance levels on its path upward. Successful consolidation above $0.600 is deemed crucial, with resistance expected around $0.637 before potentially surging past $0.670 towards the $0.700 milestone. Furthermore, ADA’s recent price action showcases a pattern of establishing higher lows and higher highs, indicative of a healthy and sustained uptrend. 

Read also:

disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on CryptoNewsLand

ORIGINAL SOURCE

https://cryptonewsland.com/cardanos-bull...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Genius Yields DEX Launched!

More from CryptoNewsLand

See more
Cardano Poised for Meteoric Rise: Analyst Predicts Impending All-Time High
CryptoNewsLand
Cardano Poised for Meteoric Rise: Analyst Predicts Impending All-Time High

03/02/2024

·

37 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)