Urgent: Multiple Signals Pointing Buy For Cardano! Get Ready
For the past few days now, we have been tracking the Bullish Flag Pattern forming in the Cardano 4-hour timeframe. This bullish pattern is still very valid and indicates that we might see a massive breakout in the coming days.
Not only that, right now, we are also seeing another bullish signal come into play in the ADA 4-hour timeframe as the Altcoin price approaches a major support zone.
In this Cardano analysis, we will be talking about this $0.4639 key support zone and why it is very important for the Cardano bulls to defend it. These multiple bullish signals creates “Confluence” in the market, increasing the probability for us to see a bullish price bounce in the coming days.
ADA $0.4639 Key Support Zone
The Cardano Price is right now approaching the $0.4639 key support zone in the 4-hour timeframe. This support zone is very important because we have seen the ADA price respect it over and over again in the past.
For Cardano to remain bullish, we need to see this $0.4639 support zone continue to hold. If the bulls can continue to defend this key support zone, there is a very high probability that we might see more buyers begin to step in and attempt to push the Altcoin price back up.
When you combine this $0.4639 key support with the Bullish Flag Pattern currently playing out also in the 4-hour timeframe, it creates a high probability picture of a possible bullish breakout setting up to happen in the coming days.
However, this bullish prediction can only be valid if the $0.4639 key support zone continues to hold in the 4-hour timeframe. Invalidates this bullish bias on Cardano.
Final Verdict!
The Cardano price have been selling off for the past few days now. However, we believe this bearish trend might be coming to an end soon! Right now, we are seeing a bullish confluence form in the 4-hour timeframe as the ADA price is forming what looks like a bullish flag pattern at a major support zone.
The combination of these two factors increases the probability for us to see a bullish breakout in the coming days. However, for this bullish bias to remain valid, we need to see the $0.4639 key support hold.
If this support zone hold, there is a very high probability that we might see a the ADA price rally up to +30% soon!
Understanding ADA Bigger Picture
After a massive -93% dump in the value of Cardano that lasted for more than 2-years, the ADA bearish trend as finally lost all its momentum and right now we are seeing the making of a bull run about to happen in 2024.
If this bull run plays out exactly, there is a very high probability that we might even see the Cardano price surge back to the ATHs in the next few months.
Final Verdict
We are right now very bullish on Cardano and believe the Altcoin might be setting up to make a massive comeback in 2024.
As far as the ADA bulls can hold on to this bullish pressure, there is a very high probability that we might begin to see more buyers stepping in to take advantage of this coming bull run.
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