The price of Cardano aims for a breakout towards $13 if an emerging bullish market fractal develops.
The bullish market fractal reflects the structure prior to the breakout that shaped the bullish cycle of 2021 up to $3.10.
The ADA/JPY trading pair recorded a significant increase in trading volumes to become the second most traded ADA pair.
The price of Cardano (ADA) is preparing for a massive rise to $13, supported by the formation of a critical bullish fractal. This fractal also coincides with an increase in trading volume of ADA/JPY, making the pair the second most traded after ADA/USDT.
This bullish pattern coincides with a 14.1% increase in the price of Cardano and a $4.64 billion increase in market capitalization over the past seven days.
At the close of this edition, Cardano traded at $0.8137 with an intraday gain of around 1%. However, these two metrics, the bullish market fractal and the increase in trading volume in Japan, suggest that ADA could outperform other altcoins.