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Crypto Analyst Identifies Cardano Buy Signal And Parabolic Rally To Send ADA Price To $5 Newsbtc 25 Sep 2024

Crypto Analyst Identifies Cardano Buy Signal And Parabolic Rally To Send ADA Price To $5 🚀

Cardano TradingShot CoinMarketCap

As altcoin season approaches, Cardano (ADA) has seen a 14% increase in a week. A crypto analyst identified a buy signal, predicting ADA could reach $5.

TradingShot's analysis highlighted Cardano’s 1W LMACD bullish cross as a strong buy signal. Similar conditions to the 2021 bull cycle could indicate a rally.

Cardano's RSI has been ranging since May 2024. Parallelism with the 2021 bull cycle suggests another price rally may be imminent.

Alternatively, analysts like Deezy.eth predict a more conservative target of $1 by December 2024. Factors like rate cuts, ADA's bullish divergence, and the recent Cardano Chang hard fork fuel optimism.

Source: www.newsbtc.com ↗

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