Cardano Manifesting Huge Potential to go Parabolic, May Give 2x Returns Very Soon

Cardano Manifesting Huge Potential to go Parabolic, May Give 2x Returns Very Soon

As the yearly trade is on the verge to end soon, many altcoins are gearing up to register a healthy close. Hence, Cardano price has also initiated a journey towards the north by slicing through the mandatory levels around $1.5. The asset quickly inculcated the pre-Christmas boosts and hovered along with the $1.45 resistance levels for a couple of days. However, the ADA price kickstarted the present-day trade above the consolidation, aiming to smash $2 at the earliest.

The asset since the beginning of the present trading month is going parabolic in order to regain its lost position. Despite following a notable uptrend, yet the biggest challenge lies along the asset surpassing the crucial resistance levels at $1.696. This move may not only certify with an upturned but also re-ignite the bull rally.

  • The asset if on its way to hit the immediate resistance levels, yet could encounter an interim pullback due to some exhaustion
  • However, a notable pullback may be witnessed after the asset breaches through the $1.69 pivotal levels, where-in a pullback to $1.5 or $1.48 levels may be quiet possible
  • The Relative Strength Index(RSI) broke the trend line a couple of days before manifesting a bullish trend, as its also finished with a retest also
  • A healthy daily close above $1.52 could validate with an uptrend that may escort the price towards the $2 target.
  • While the crypto space is gearing up to end the yearly trade on a huge bullish note, Cardano is utilizing all its resources to register a yearly close above $2. However, the market sentiments are slowly turning bullish. And ADA price may enjoy a roller coaster ride to hit ATH while other tokens remain calm, as it did in September.

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