While Cardano (ADA) is seeing gradual rebound in price, a technical pattern on the daily chart is suggesting further gains for the asset.
While Cardano is seeing a gradual rebound in price, a technical pattern on the daily chart suggests further gains for the asset.is gradually showing signs of recovery after a recent downturn that pushed its price to as low as $0.33 earlier this month.
The asset recently rejected a major support zone within an ascending triangle pattern, a signal that often suggests the potential for a bullish breakout. This pattern is characterized by a series of higher lows, forming the rising trendline, while the upper boundary remains horizontal. After each rejection from this zone, ADA’s price has historically increased, signaling that the asset may now be primed for another upward move.
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