Key Takeaways
- ADA’s price confirms a bullish breakout from a six-month price range, with potential for 100%–150% upside.
- Crypto experts suggest Cardano’s price breakout could continue towards the key resistance of $1.3.
- Long-term holders with 15 billion ADA for over a year expect the price to $3.
Cardano’s (ADA) price broke out of its six-month price consolidation, with the price rallying towards $1 after months of struggling below this zone. With a strong rally breaking out of its price range, crypto experts and traders are speculating a rally to a potential $3 in the coming weeks.
ADA’s recent bullish flag breakout on the higher timeframe and market sentiment are beginning to look strong for its narrative, as price could build on recent 30% price gain in one month to a new year high, following a price decline in previous months.
ADA’s Price Finally Breaks Out
Source – ADA’s Price Chart From TradingView
The price of Cardano has confirmed a multi-month breakout to the upside following weeks of price trading in a range below the key market zone of $1, as the price has finally confirmed a bullish price rally to the upside of $1.
Despite the price of ADA indicating a strong breakout to the upside, Cardano’s bulls would need to break above the key resistance zone of $1.17 and $1.3, respectively, for the price to maintain its current price action to the upside.
However, current price gains and market sentiment suggest there are strong whale activities in the Cardano community, as this is a boost for the price to continue its rally towards the upside.
A breakout and close for ADA’s price above $1.3 resistance, we could see the price rally towards $2 and subsequently $3 based on market expectations and predictions of traders and investors buying into ADA currently.
ADA to $3? Crypto Expert Shares Opinion
Top crypto trader and analyst Luciano_BTC has identified a strong bullish breakout for Cardano following its 20% price gain. The crypto expert has speculated that the price will continue to rise towards a high of $1.3, acting as resistance for the price.
While his analysis has played out based on speculation, other crypto experts have maintained the same bullish sentiment towards price, with much optimistic speculation of price rallying towards $2 to $3, which could see price gain over 100% to 200% in the coming weeks.
Overall market price action and potential opportunities for traders and investors remain bullish in the coming weeks.
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