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Home»ALTCOIN NEWS»According to cryptocurrency analyst Ali Martinez, signs of a potential rebound for Cardano (ADA) are here. His goals are:
ALTCOIN NEWS

According to cryptocurrency analyst Ali Martinez, signs of a potential rebound for Cardano (ADA) are here. His goals are:

By Crypto FlexsFebruary 11, 20242 Mins Read
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According to cryptocurrency analyst Ali Martinez, signs of a potential rebound for Cardano (ADA) are here.  His goals are:
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Smart contract platform Cardano (ADA) has formed a chart pattern that potentially indicates an upcoming rally, a widely respected cryptocurrency analyst said.

Crypto strategist Ali Martinez in a new thread says 44,000 followers on social media platform X said the price of ADA could rise based on the cryptocurrency’s descending triangle chart pattern.

A descending triangle is generally a continuation pattern of an established downtrend and is considered a bearish signal, while a breakout in the opposite direction, known as a reversal pattern, is a bullish signal.

Martinez said Cardano could surge to $0.68 if it starts moving upward. The cryptocurrency asset is currently trading at $0.53, up 4.45% over the last 24 hours.

“Cardano shows signs of forming a descending triangle on the daily chart. A sustained daily close above $0.53 could trigger a 32% rally, potentially pushing ADA to $0.68!”

Source: Ali Martinez/X

Last month, a cryptocurrency analyst and trader said Cardano could see gains of more than 1,300% as the asset undergoes a similar consolidation phase as in 2020, with ADA rising to an all-time high above $3. More than 2,900%.

According to data from market intelligence platforms: Into the BlockA significant portion of Cardano investors are holding the asset for the long term.

“23% of Cardano holders have held ADA for more than 5 years.”

Source: IntoTheBlock/X

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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