SolEthicX
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🚀 Cardano Breaks Out & Targets Higher
Cardano (ADA) has blasted out of a months-long double bottom pattern, bouncing from equal lows near $0.51 and breaking the neckline at $0.86. A failed attempt in July topped at $0.94 before dipping to $0.68 — now seen as a fakeout. This latest move is backed by strong volume 📊 and ADA holding above both the 20-day EMA and 50-day SMA, with short-term momentum clearly bullish.
📈 Price Prediction & Key Levels
If ADA flips $0.86 into solid support, the chart projects a $1.21 target, about 22% above the current $0.99. Breaking and closing above $1.00 💪 would boost confidence, while falling below $0.86 would weaken the setup. Analyst Ali Martinez sees an even bolder upside — forecasting $ADA could rally all the way to $1.50 🎯 based on the 12-hour perpetual contract chart.
🔥 ETF Hype Fuels the Surge
Beyond technicals, ADA’s rally is getting a fundamental boost. On August 12, Grayscale registered the Grayscale Cardano Trust ETF in Delaware, alongside a Hedera ETF. These filings often precede SEC applications, hinting at potential regulated ETF exposure 📜. Combined with bullish chart patterns, this ETF speculation is adding serious fuel to ADA’s momentum.
Cardano (ADA) has blasted out of a months-long double bottom pattern, bouncing from equal lows near $0.51 and breaking the neckline at $0.86. A failed attempt in July topped at $0.94 before dipping to $0.68 — now seen as a fakeout. This latest move is backed by strong volume 📊 and ADA holding above both the 20-day EMA and 50-day SMA, with short-term momentum clearly bullish.
📈 Price Prediction & Key Levels
If ADA flips $0.86 into solid support, the chart projects a $1.21 target, about 22% above the current $0.99. Breaking and closing above $1.00 💪 would boost confidence, while falling below $0.86 would weaken the setup. Analyst Ali Martinez sees an even bolder upside — forecasting $ADA could rally all the way to $1.50 🎯 based on the 12-hour perpetual contract chart.
🔥 ETF Hype Fuels the Surge
Beyond technicals, ADA’s rally is getting a fundamental boost. On August 12, Grayscale registered the Grayscale Cardano Trust ETF in Delaware, alongside a Hedera ETF. These filings often precede SEC applications, hinting at potential regulated ETF exposure 📜. Combined with bullish chart patterns, this ETF speculation is adding serious fuel to ADA’s momentum.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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