This pattern tends to have an upward outcome for the asset's quote.

Analysts project that ADA could reach up to 1.50 dollars in this bullish cycle.

Cardano (ADA) is one of the cryptocurrencies that has once again captured the market's attention since Donald Trump's victory in the United States elections.

As CriptoNoticias reported, at that time, the native coin of the Cardano network experienced a rise of 80% and reached a quote of 1.30 dollars in this cycle.

After reaching its cycle peak, ADA entered a price compression zone, where the highs and lows converge, forming a technical analysis pattern known as a "bullish pennant."

This is a triangular figure that generates a positive sentiment among investors and is characterized by a strong upward movement (the pennant's mast) followed by a price consolidation period (the flag).

Generally, the breakout of the figure resolves with a movement that goes in the same direction as the initial trend, that is, with a strong price increase.