Cobit
@AJPV
Independent trader specializing in technical analysis.
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The quote of #ADA is resting right above the weekly support line. Safe buying zone with stop-loss just below that line.
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Regarding the drop of Bitcoin, it has not been much compared to ADA, SOL, or DOGE.
These last cryptocurrencies have reacted more aggressively than the "queen coin" itself.
The fact is that if we observe the chart on a weekly time scale, BTC is far from its 90-day average and, as is known, prices always return to the average, so if that is the case, we should expect even more drops before bouncing back up as expected.
So let's not get nervous and take advantage of these drops to accumulate both in Bitcoin and in the other major important coins.
These last cryptocurrencies have reacted more aggressively than the "queen coin" itself.
The fact is that if we observe the chart on a weekly time scale, BTC is far from its 90-day average and, as is known, prices always return to the average, so if that is the case, we should expect even more drops before bouncing back up as expected.
So let's not get nervous and take advantage of these drops to accumulate both in Bitcoin and in the other major important coins.
See original
Many traders believe that the market only moves in a straight line. We were going up very vertically and corrections in the same proportion are good for continuing to rise.
BullishBanter
--
Bearish
Ohhh Shit .. This is totally Bad time for All who's Buy or in Long positions... What I do here.. A big loss face within two days... Just at Start of previous .. I was in profit with almost $7000 and now in $5000 lose..
This situation is certainly puzzling and demands careful thought. While it's common for Bitcoin to experience pullbacks after such a massive rally from $60,000 to nearly $110,000, the recent drop toward $90,000 is within an acceptable range. However, the real concern lies elsewhere. Bitcoin remains at a relatively high level, yet altcoins have already plummeted significantly. If Bitcoin fails to hold support near $90,000-$93,000 and continues to drop, it could further strain the altcoin market.
For those holding altcoins, it’s crucial not to panic or act hastily. Coins like Ethereum, which have seen sharp declines, are likely to see a rebound around key levels, such as $3,600. If you're trading with high leverage, consider reducing it during a rebound to protect yourself from further volatility. For investors with additional capital, this drop could be an opportunity to accumulate some assets.
In the worst-case scenario, Bitcoin’s absolute support lies near $90,000, while Ethereum’s critical level hovers around $3,000. These levels should be monitored closely. It’s also essential to manage leverage carefully to avoid unnecessary risks. The market crash triggered by recent events, such as Powell's policy updates, took everyone by surprise. However, looking ahead, optimism persists. With Trump’s inauguration on January 20th, there’s a possibility of a market rally fueled by renewed investor sentiment.
This current pullback can be viewed as a necessary period of consolidation before another upward wave. The next 30 days offer ample time for the market to stabilize and recover. I personally plan to take calculated risks leading up to January 20th, expecting the market to choose its direction after this consolidation phase. Patience, discipline, and sound risk management will be key during this time.
This situation is certainly puzzling and demands careful thought. While it's common for Bitcoin to experience pullbacks after such a massive rally from $60,000 to nearly $110,000, the recent drop toward $90,000 is within an acceptable range. However, the real concern lies elsewhere. Bitcoin remains at a relatively high level, yet altcoins have already plummeted significantly. If Bitcoin fails to hold support near $90,000-$93,000 and continues to drop, it could further strain the altcoin market.
For those holding altcoins, it’s crucial not to panic or act hastily. Coins like Ethereum, which have seen sharp declines, are likely to see a rebound around key levels, such as $3,600. If you're trading with high leverage, consider reducing it during a rebound to protect yourself from further volatility. For investors with additional capital, this drop could be an opportunity to accumulate some assets.
In the worst-case scenario, Bitcoin’s absolute support lies near $90,000, while Ethereum’s critical level hovers around $3,000. These levels should be monitored closely. It’s also essential to manage leverage carefully to avoid unnecessary risks. The market crash triggered by recent events, such as Powell's policy updates, took everyone by surprise. However, looking ahead, optimism persists. With Trump’s inauguration on January 20th, there’s a possibility of a market rally fueled by renewed investor sentiment.
This current pullback can be viewed as a necessary period of consolidation before another upward wave. The next 30 days offer ample time for the market to stabilize and recover. I personally plan to take calculated risks leading up to January 20th, expecting the market to choose its direction after this consolidation phase. Patience, discipline, and sound risk management will be key during this time.
See original
Thanks to these people, the market purges its excesses, drives out the fearful, and, above all, allows you to buy at better prices.
This person has the ability to change the direction of the market completely .
Since many days crypto market is very volatile .
It was a worst week especially for small investors who got liquidated in millions . Infact crypto market works like this .
This is the place where you can lose your assets within a day if you don't know how to do the risk management but sometimes despite of everything ,whales manipulation happens and people lose their whole investment in one night .
Don't you think there should be a police by all exchanges to have a check and balance over sudden market traps so people can become more confident in investing their hard earned money 💰
Comment below and tell your thoughts about it.
#BTCNextMove #USJoblessClaimsFall #BinanceAlphaAlert
Since many days crypto market is very volatile .
It was a worst week especially for small investors who got liquidated in millions . Infact crypto market works like this .
This is the place where you can lose your assets within a day if you don't know how to do the risk management but sometimes despite of everything ,whales manipulation happens and people lose their whole investment in one night .
Don't you think there should be a police by all exchanges to have a check and balance over sudden market traps so people can become more confident in investing their hard earned money 💰
Comment below and tell your thoughts about it.
#BTCNextMove #USJoblessClaimsFall #BinanceAlphaAlert
See original
The long-term outlook for cryptocurrencies is clear: BULLISH, especially for the most important ones.
There is also talk lately, even by some governments and companies, of adopting Bitcoin as a store of value, since there are currencies with better characteristics for other transactions.
Historically, the crypto market has collapsed when the stock market went down. So, correlation is important until proven otherwise.
So, the ultimate test for Bitcoin will be to see if, in the event of a stampede on the stock market, money goes as usual to gold, the dollar, the yen or the Swiss franc, or will it act as a safe haven.
If this ever happens, put all your money in Bitcoin because it has a limited number of coins and demand will exceed supply, so the rise in its price can be astronomical.
Also remember that the crypto market is of "recent creation" hence those sudden rises and falls. As time goes by and more and more supports and resistances are drawn on the 📈, the movements will be much more moderate, which would help stabilize the cryptocurrency market and encourage more conservative profiles to enter it.
There is also talk lately, even by some governments and companies, of adopting Bitcoin as a store of value, since there are currencies with better characteristics for other transactions.
Historically, the crypto market has collapsed when the stock market went down. So, correlation is important until proven otherwise.
So, the ultimate test for Bitcoin will be to see if, in the event of a stampede on the stock market, money goes as usual to gold, the dollar, the yen or the Swiss franc, or will it act as a safe haven.
If this ever happens, put all your money in Bitcoin because it has a limited number of coins and demand will exceed supply, so the rise in its price can be astronomical.
Also remember that the crypto market is of "recent creation" hence those sudden rises and falls. As time goes by and more and more supports and resistances are drawn on the 📈, the movements will be much more moderate, which would help stabilize the cryptocurrency market and encourage more conservative profiles to enter it.
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I'm sorry but you will likely lose all your money. When you buy something, make sure it is from the most capitalized cryptocurrencies.
$ACX
I bought this currency when it was at 1.60 and now I lost all the money and I got severely depressed 🥺
I bought this currency when it was at 1.60 and now I lost all the money and I got severely depressed 🥺
See original
Exactly, sell at resistances and buy at supports. Beginners do it the other way around and think that their positions are being watched 😀 because the price behaves the opposite way.
If I hadn’t been greedy, I’d have six times more money right now.
In this context, I’m reflecting on situations where coin prices increased by 15-30% or more, yet I didn’t sell, hoping they would climb even higher. The result? Prices often retraced back to my entry point or even lower, triggering stop-losses or reducing my capital.
After experiencing several such disappointments, I’ve adopted a strategy: take profits when prices reach key resistance zones, identified through chart analysis.
Yes, this approach might seem obvious and widely known, but greed is notoriously hard to overcome—it’s no coincidence it’s considered one of the seven deadly sins. The key to defeating it lies in forming personal convictions, maintaining discipline, and celebrating every profit taken. It’s also crucial to remember that the market will always offer new opportunities to find the next profitable entry point.
Avoid greed, and your win rate will soar.
#cryptoadvice #greed
$ACT
$TURBO
In this context, I’m reflecting on situations where coin prices increased by 15-30% or more, yet I didn’t sell, hoping they would climb even higher. The result? Prices often retraced back to my entry point or even lower, triggering stop-losses or reducing my capital.
After experiencing several such disappointments, I’ve adopted a strategy: take profits when prices reach key resistance zones, identified through chart analysis.
Yes, this approach might seem obvious and widely known, but greed is notoriously hard to overcome—it’s no coincidence it’s considered one of the seven deadly sins. The key to defeating it lies in forming personal convictions, maintaining discipline, and celebrating every profit taken. It’s also crucial to remember that the market will always offer new opportunities to find the next profitable entry point.
Avoid greed, and your win rate will soar.
#cryptoadvice #greed
$ACT
$TURBO
See original
How and where a trade should be opened
A very bad habit of any self-respecting trader is to try to 'catch' a movement from its beginning.
It is extremely difficult to enter at a trend change and, likewise, to enter an upward or downward movement right from the beginning of it.
Moreover, there is a legend among traders that says: “Trying to catch the first and last penny ends up being the two most expensive pennies in the world.”
This is due to the difficulty of catching a movement from the beginning. It may be achieved now and then, but not always, which will end up losing more money than is gained.
It is extremely difficult to enter at a trend change and, likewise, to enter an upward or downward movement right from the beginning of it.
Moreover, there is a legend among traders that says: “Trying to catch the first and last penny ends up being the two most expensive pennies in the world.”
This is due to the difficulty of catching a movement from the beginning. It may be achieved now and then, but not always, which will end up losing more money than is gained.
See original
Why is the market falling and what could happen?
Well, big rises correspond to nothing less than spectacular falls. This is not new; it has always been this way.
We have seen a practically vertical rise (which we all liked a lot), and now it is time to correct (we don't like that as much).
But there is no hidden hand (just speculators or investors with a lot of money, and their operations can move the market one way or another), like everyone else but without that ability to influence the market.
Corrections are good because they help stabilize the market and purge it before continuing to rise.
Some of the most capitalized cryptocurrencies have hit their all-time highs. Just look at #solana in the weekly or monthly chart. On the other hand, #Bitcoin , which is the reference currency that moves the rest of the market, has hit a psychological resistance (the 100,000) that will be difficult to surpass at first.
Of course, the market, or those of us who make it up, are very fearful; it doesn't take us long to be in negative positions for months or however long it takes, but as soon as our profits retreat a little, we barely take hours to close our operations, or adjust the stop loss as much as we can, which is essentially the same thing.
This is how we achieve a trading history where we can see that our trades with small gains are many, and then we only have 3 or 4 negative trades, but each of them represents astronomical losses. And of course, by acting this way, the curve of our account will always be negative.
So, above all, patience and look at the play in the long term. The crypto scenario has changed. Adoption is unstoppable. There is no turning back. Just a lot of patience, not checking our positions every minute unless we have mental strength of steel, be very careful with the less capitalized cryptocurrencies, and bet strongly, at every pullback, on the most important ones.
The long-term underlying trend remains bullish.
Well, big rises correspond to nothing less than spectacular falls. This is not new; it has always been this way.
We have seen a practically vertical rise (which we all liked a lot), and now it is time to correct (we don't like that as much).
But there is no hidden hand (just speculators or investors with a lot of money, and their operations can move the market one way or another), like everyone else but without that ability to influence the market.
Corrections are good because they help stabilize the market and purge it before continuing to rise.
Some of the most capitalized cryptocurrencies have hit their all-time highs. Just look at #solana in the weekly or monthly chart. On the other hand, #Bitcoin , which is the reference currency that moves the rest of the market, has hit a psychological resistance (the 100,000) that will be difficult to surpass at first.
Of course, the market, or those of us who make it up, are very fearful; it doesn't take us long to be in negative positions for months or however long it takes, but as soon as our profits retreat a little, we barely take hours to close our operations, or adjust the stop loss as much as we can, which is essentially the same thing.
This is how we achieve a trading history where we can see that our trades with small gains are many, and then we only have 3 or 4 negative trades, but each of them represents astronomical losses. And of course, by acting this way, the curve of our account will always be negative.
So, above all, patience and look at the play in the long term. The crypto scenario has changed. Adoption is unstoppable. There is no turning back. Just a lot of patience, not checking our positions every minute unless we have mental strength of steel, be very careful with the less capitalized cryptocurrencies, and bet strongly, at every pullback, on the most important ones.
The long-term underlying trend remains bullish.
See original
How to build a cash cushion to protect yourself from market downturns
When you are trading, do you realize that when the market is falling and you are incurring losses, you generally add more positions to those you already have because you sense that the market will rise again and thus recover your losses sooner?
Surely many times the market has continued to fall and what happens is that the losses multiply even more. It has happened to all of us.
But let's leave this and see what we should do in case the trend is bullish and goes in our favor.
Surely many times the market has continued to fall and what happens is that the losses multiply even more. It has happened to all of us.
But let's leave this and see what we should do in case the trend is bullish and goes in our favor.
See original
With cryptocurrencies, you must be very clear that while there may be extraordinary rises, the falls will be of the same nature. You need to have composure and a long-term vision.
Guess Who REALLY Caused Today’s Crypto Crash? The Shocking Truth Revealed
🚨 Guess Who REALLY Caused Today’s Crypto Crash? The Shocking Truth Revealed 🚨
If you woke up to a sea of red in your crypto portfolio, you’re not alone. Today’s crypto crash sent shockwaves through the market, wiping out billions in market caps and sparking fears of another prolonged bear market. But who, or what, is really behind the chaos?
Let’s dive into the root causes, the players involved, and what this means for crypto investors going forward.
The Immediate Trigger: A Sudden Market Shake
This morning, Bitcoin plunged over 8%, dragging Ethereum, Solana, and other major altcoins with it. But the big question remains: What caused this sudden collapse?
Let’s dive in… 1. The Institutional Selloff
Reports suggest that major institutional players have dumped significant portions of Bitcoin and Ethereum.
Glassnode data shows a net outflow of over $2 billion from large crypto wallets in a 24-hour period. Why this matters: Institutions often act as market movers. Their sales can trigger panic among retail investors, creating a domino effect that accelerates the decline.
China Ban Expands: Reports indicate that China is intensifying its ban on cryptocurrencies, even targeting OTC trading platforms.
🔑 Why this matters: Uncertainty around regulations is fueling fear, prompting investors to exit positions until clarity emerges.
What Should You Do Now? For Long-Term Investors: Stay calm and avoid panic selling.
Use this opportunity to dollar-cost average (DCA) into fundamentally strong assets. For Traders: Be careful with leverage, today’s sell-off proves how quickly things can go wrong.#TopCoinsSeptember $BTC
🚨 Guess Who REALLY Caused Today’s Crypto Crash? The Shocking Truth Revealed 🚨
If you woke up to a sea of red in your crypto portfolio, you’re not alone. Today’s crypto crash sent shockwaves through the market, wiping out billions in market caps and sparking fears of another prolonged bear market. But who, or what, is really behind the chaos?
Let’s dive into the root causes, the players involved, and what this means for crypto investors going forward.
The Immediate Trigger: A Sudden Market Shake
This morning, Bitcoin plunged over 8%, dragging Ethereum, Solana, and other major altcoins with it. But the big question remains: What caused this sudden collapse?
Let’s dive in… 1. The Institutional Selloff
Reports suggest that major institutional players have dumped significant portions of Bitcoin and Ethereum.
Glassnode data shows a net outflow of over $2 billion from large crypto wallets in a 24-hour period. Why this matters: Institutions often act as market movers. Their sales can trigger panic among retail investors, creating a domino effect that accelerates the decline.
China Ban Expands: Reports indicate that China is intensifying its ban on cryptocurrencies, even targeting OTC trading platforms.
🔑 Why this matters: Uncertainty around regulations is fueling fear, prompting investors to exit positions until clarity emerges.
What Should You Do Now? For Long-Term Investors: Stay calm and avoid panic selling.
Use this opportunity to dollar-cost average (DCA) into fundamentally strong assets. For Traders: Be careful with leverage, today’s sell-off proves how quickly things can go wrong.#TopCoinsSeptember $BTC
See original
A quick way to know at what moment the market is
In ancient times, there was no access to charts or news as there is today, so traders had to fend for themselves to know when the market hit a support or resistance, or was in a bearish or bullish trend.
If you have ever delved into it, you have surely heard of the speculator Jesse Livermore. He has a couple of published books about how trading was done in the market back in the nineteen hundreds.
Imagine that you have a well-diversified portfolio and the total amount of money you have in your account reaches, for example, 16,000 in FIAT currency (it doesn't matter which currency you are using: euro, dollar, etc.).
If you have ever delved into it, you have surely heard of the speculator Jesse Livermore. He has a couple of published books about how trading was done in the market back in the nineteen hundreds.
Imagine that you have a well-diversified portfolio and the total amount of money you have in your account reaches, for example, 16,000 in FIAT currency (it doesn't matter which currency you are using: euro, dollar, etc.).
See original
How to Trade: Trading Routine for Success
Whether you dedicate the whole day to trading or share it with your usual job (in this case, it has even more reason to be), a routine applied with discipline will eventually achieve the desired results after a period of consistent application.
You have to allocate the approximate time you have each day (as if you have to make a "schedule" like the one you had in school) among the tasks to be performed.
We are going to focus on the time dedicated to trading.
As you can imagine, trading is not just about operating in the market.
You have to allocate the approximate time you have each day (as if you have to make a "schedule" like the one you had in school) among the tasks to be performed.
We are going to focus on the time dedicated to trading.
As you can imagine, trading is not just about operating in the market.
See original
How to close a trade with profits
"Where to exit a profitable position trying to achieve the maximum return?".
Almost nothing, or .... almost everything :)
From the moment we understand that we cannot know what will happen in the future, this unknown belongs to the realm of darkness.
Many times you close and regret having done so as the price continues to advance...
Other times you close and regret not having done so, as waiting reduces the benefits...
But what I have observed up to now has been the following:
Almost nothing, or .... almost everything :)
From the moment we understand that we cannot know what will happen in the future, this unknown belongs to the realm of darkness.
Many times you close and regret having done so as the price continues to advance...
Other times you close and regret not having done so, as waiting reduces the benefits...
But what I have observed up to now has been the following:
See original
How should you trade intraday data? The danger of not closing losing positions
One of the biggest dilemmas that traders face when trading is what to take into account when opening a trade. Charts? News? Macro data?
Most people go for everything at once, and the truth is that to achieve consistency in trading, although all traders go through the same stages, there are different paths to reach the goal.
The problem with doing what everyone else is doing is that you will either do the same thing or get the same results.
Most people go for everything at once, and the truth is that to achieve consistency in trading, although all traders go through the same stages, there are different paths to reach the goal.
The problem with doing what everyone else is doing is that you will either do the same thing or get the same results.
See original
The number of French people seeking information on how to buy cryptocurrencies is increasing due to the poor economic outlook of the country.
It doesn't seem like there will be a bank run where everyone loses their savings, as happened in Argentina, but given the gradual rise in their risk premium, they surely see putting some of their money into crypto as a good idea.
It doesn't seem like there will be a bank run where everyone loses their savings, as happened in Argentina, but given the gradual rise in their risk premium, they surely see putting some of their money into crypto as a good idea.
See original
Attention to the Solana chart. Its price is about to surpass historical highs.
Will it find resistance? It will probably indicate a price pullback at that point. Let's remember that many traders have been trapped at that level since the end of 2021, and of course, they will likely want to recover their money.
But the overall market trend seems very bullish, and if it surpasses its historical highs, it will not only signal that significant increases are coming for Solana but will also be a bullish indicator for the rest of the crypto market.
Therefore, every pullback in the current situation is an opportunity to accumulate at lower prices.
#Solana
Will it find resistance? It will probably indicate a price pullback at that point. Let's remember that many traders have been trapped at that level since the end of 2021, and of course, they will likely want to recover their money.
But the overall market trend seems very bullish, and if it surpasses its historical highs, it will not only signal that significant increases are coming for Solana but will also be a bullish indicator for the rest of the crypto market.
Therefore, every pullback in the current situation is an opportunity to accumulate at lower prices.
#Solana
See original
Do you believe in technical analysis?
A) Technical analysis, fundamental analysis, moon phases and other demons are all aimed at finding a way to predict future market movements based on past quotes.
Therefore, all the techniques you can use to open a position are subject to a percentage of reliability. Some have a higher percentage and others have a lower percentage.
That is, when you open a position, you have x probabilities of success but never the certainty that it will be the operation you are looking for.
Therefore, all the techniques you can use to open a position are subject to a percentage of reliability. Some have a higher percentage and others have a lower percentage.
That is, when you open a position, you have x probabilities of success but never the certainty that it will be the operation you are looking for.
See original
Have you not felt, in the recent escalation of the Ukraine War, the concern that your savings in FIAT were unsafe and the need to look for a safe haven and that this refuge pointed to Bitcoin?
The security that if you have to move or want to flee to another country you will be able to have your cryptocurrencies wherever you go, which is not the case with FIAT money.
In Venezuela you cannot take your possessions out of the country, but if you convert all their value to crypto things change... 🙂
The truth is that if you look at the logarithmic graph of Bitcoin and draw a parallel line (drawing a channel) to the oblique support on the weekly historical graph you will see that the projection takes us to quotes close to $200,000
The security that if you have to move or want to flee to another country you will be able to have your cryptocurrencies wherever you go, which is not the case with FIAT money.
In Venezuela you cannot take your possessions out of the country, but if you convert all their value to crypto things change... 🙂
The truth is that if you look at the logarithmic graph of Bitcoin and draw a parallel line (drawing a channel) to the oblique support on the weekly historical graph you will see that the projection takes us to quotes close to $200,000
See original
There is no merit to it. In a bull market all bearish patterns fail and in a bear market all bullish patterns fail...and we are in a bull market.
Crypto Breaking
--
Cardano Price Breakout: Bull Flag Rally Points To Another 50% Surge
Crypto analyst CoreCrypto has predicted that the Cardano price could enjoy a massive breakout soon enough. The analyst highlighted a bull flag-like structure that could cause Cardano to enjoy another 50% price surge.
Cardano Price Breakout On The Horizon
In a TradingView post, CoreCrypto stated that the Cardano price is showing strong bullish momentum and is breaking out from a bull flag-like structure, with a successful retest confirming this move. The analyst added that the support is holding firm, signaling a potential rally ahead. In line with this, he stated that now is the time to long ADA and accumulate more within this range.
For those looking to trade ADA, the analyst stated that the entry range is at the current market price and that they could add up to $0.98. Meanwhile, he set four targets for this long trade. The first target is $1.08, the second is $1.24, the third is $1.36, and the fourth is $1.49, meaning the Cardano price could enjoy up to a 50% surge from its current level.
Meanwhile, the analyst told traders to put their stop loss at $0.92. As to why this analysis matters, CoreCrypto stated that this setup points to a decisive bullish breakout for the Cardano price. With the confirmed retest and strong support levels, the analyst said it looks like an excellent opportunity for traders.
The Cardano price undoubtedly boasts a bullish outlook, especially since whales are actively accumulating ADA. This indicates that these investors are bullish on the crypto and expect future price increases. NewsBTC recently reported that whales bought over 130 million coins as demand for the crypto continues to skyrocket.
IntoTheBlock data also shows that ADA’s large transactions have surged by over 5%, which paints a bullish picture for the Cardano price. Meanwhile, the ‘Net Network Growth’ metric is also bullish at the moment, meaning that investors are actively using the Cardano network.
ADA Could Rally Up To $10 In This Bull Run
Crypto analyst Dan Gambardello has predicted that the Cardano price could rally up to $10 in this bull run. His prediction came as he discussed Cardano crossing the $1 milestone. He stated that now that ADA has crossed this price mark, it is great to see a consolidation and redistribution among holders.
Once this consolidation and redistribution phase is over, Gambardello believes that the Cardano price can focus on its rally to $5 and then $10. In an X post, crypto analyst Sebastian said Cardano looks promising. He predicts that a price breakout could happen soon, followed by a restest and then “moon.”
At the time of writing, the Cardano price is trading at around $1.06, up over 5% in the last 24 hours, according to data from CoinMarketCap.
Source: NewsBTC.com
The post Cardano Price Breakout: Bull Flag Rally Points To Another 50% Surge appeared first on Crypto Breaking News.
Cardano Price Breakout On The Horizon
In a TradingView post, CoreCrypto stated that the Cardano price is showing strong bullish momentum and is breaking out from a bull flag-like structure, with a successful retest confirming this move. The analyst added that the support is holding firm, signaling a potential rally ahead. In line with this, he stated that now is the time to long ADA and accumulate more within this range.
For those looking to trade ADA, the analyst stated that the entry range is at the current market price and that they could add up to $0.98. Meanwhile, he set four targets for this long trade. The first target is $1.08, the second is $1.24, the third is $1.36, and the fourth is $1.49, meaning the Cardano price could enjoy up to a 50% surge from its current level.
Meanwhile, the analyst told traders to put their stop loss at $0.92. As to why this analysis matters, CoreCrypto stated that this setup points to a decisive bullish breakout for the Cardano price. With the confirmed retest and strong support levels, the analyst said it looks like an excellent opportunity for traders.
The Cardano price undoubtedly boasts a bullish outlook, especially since whales are actively accumulating ADA. This indicates that these investors are bullish on the crypto and expect future price increases. NewsBTC recently reported that whales bought over 130 million coins as demand for the crypto continues to skyrocket.
IntoTheBlock data also shows that ADA’s large transactions have surged by over 5%, which paints a bullish picture for the Cardano price. Meanwhile, the ‘Net Network Growth’ metric is also bullish at the moment, meaning that investors are actively using the Cardano network.
ADA Could Rally Up To $10 In This Bull Run
Crypto analyst Dan Gambardello has predicted that the Cardano price could rally up to $10 in this bull run. His prediction came as he discussed Cardano crossing the $1 milestone. He stated that now that ADA has crossed this price mark, it is great to see a consolidation and redistribution among holders.
Once this consolidation and redistribution phase is over, Gambardello believes that the Cardano price can focus on its rally to $5 and then $10. In an X post, crypto analyst Sebastian said Cardano looks promising. He predicts that a price breakout could happen soon, followed by a restest and then “moon.”
At the time of writing, the Cardano price is trading at around $1.06, up over 5% in the last 24 hours, according to data from CoinMarketCap.
Source: NewsBTC.com
The post Cardano Price Breakout: Bull Flag Rally Points To Another 50% Surge appeared first on Crypto Breaking News.
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