Analysis of Cardano (ADA):
Current price: around $0.928, with a slight increase of +0.13% from the previous close.
Highest price today: $1.015, lowest price: $0.8836.
Recent performance: ADA surpassed the $1 barrier after a strong rise of up to 15.9% in the last 24 hours, before the movement calmed down a bit.
Positive technical factors:
Breakout of a Bull Flag pattern that has extended for several months.
Exit from a downward channel that lasted more than 250 days.
Appearance of a Triple Bottom pattern on the chart.
High trading volumes and strong activity in derivatives, with increased buying from whales.
Forecast:
Short-term (weeks): Stability above $1 may push towards $1.50 – $1.75.
Medium-term (months): Expectations between $0.89 and $1.43 with an average of $1.26 by the end of the year.
Long-term: Continued momentum may raise the price near $3.9.
Supportive factors for the rise:
Possibility of launching an ETF for Cardano.
Over 15 billion ADA frozen for more than a year, reducing supply and boosting confidence.
Significant increase in trading volumes (+88% or more).
Recommendations: 🔥🔥
For day trading:
Buying near $0.90 – $0.92.
Partial profit taking at $1.05 – $1.10.
Stop loss below $0.88.
For medium-term investors:
Hold positions as long as the price is above $0.90.
Monitoring a breakout at $1.20 to target $1.50.
For long-term investors:
Reinforce positions if the price returns near $0.90 while keeping an eye on ETF news.
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