The price of Cardano‘s been like a tired old mule, trudging back from a recent dip, trying to find some ground after a tumble. Over the last 24 hours, it managed a modest bump of about 1%, peaking at $0.7613. This small rise has caught the eye of those who spend too much time staring at charts, and they’ve noticed something—Cardano’s been meandering within a very particular pattern for the past few months. It’s like watching a squirrel do circles around a tree; it’s not exciting, but it’s interesting if you look close enough.
Specifically, the daily chart for Cardano/USDT shows the cryptocurrency trading inside a triangle. No, not the Bermuda kind—though, who wouldn’t like that—but a good old-fashioned price triangle. And now, the talk is that this pattern might just push Cardano towards $1.5. Yep, you read that right. A nice, clean 100% rally is what they’re predicting.
Hold on to Your Hats, We Might Just Be Looking at a 100% Move!
A sharp-eyed analyst on TradingView pointed out that Cardano’s been trapped inside this triangle since November 2024. The chart’s got it all: lower highs, higher lows, the whole “coming together” vibe. The last drop saw Cardano hit a low of $0.647, but it found support there, like a kid catching themselves before falling off a bike. So, what’s next? Another trip up towards that upper boundary. The tiny rally in the last 24 hours? Yeah, it might just be the first step toward a trip to $1.5. Fingers crossed, folks!
So here’s the scoop: the big takeaway from this triangle? If Cardano can finally break through that upper trendline, it could skyrocket to $1.5. That’s double its current value. Yep, the kind of move that’d make even your skeptical cousin raise an eyebrow.
Can ADA Really Hit $1.5? What to Watch for Next
Now, that upper trendline is a bit of a tough nut to crack. It’s the resistance that Cardano’s tried to punch through three times since November. Will it succeed? Who knows. The market has been looking a bit grumpy lately—bearish sentiment, like your mood when you realize it’s Monday again—but if Cardano can break through, it could trigger a massive surge. But hey, don’t hold your breath just yet. It’s still very possible we see another rejection. The crypto gods aren’t always kind.
And let’s not forget that the whole market’s vibe, especially Bitcoin’s, will play a part in how quickly Cardano can make its move. If Bitcoin decides to do its thing and everyone gets that “let’s go to the moon” energy, then maybe—just maybe—Cardano will hit that $1.5 mark. But we’re in for a ride, my friends. Who knows if it’ll take the high road or just stay stuck in the mud?
As of now, Cardano’s trading at $0.7205, and who knows, maybe it’ll take another swing down to retest that support. Stay tuned, folks—this rollercoaster might just get more exciting.
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2025-03-14 02:11