A possible merger of the price of the cryptocurrency Cardano (ADA)

The cryptocurrency Cardano (ADA) is facing a difficult time, but the bull technical pattern suggests the possibility of price recovery is imminent. The analysis of the chain and the historical trends actually shows a potential explosion for the ADA brand.

Let’s see all the details in this article.

In recent months, the cryptocurrency market has experienced a bear phase, with many altcoins seeing their value decrease. Among these, Cardano (ADA) is the most affected, recording a contract affected by funds.

However, despite the difficulties, Cardano shows integration symbols in a bullish pattern that could lead to an important rally, pushing the price of the tokens to new levels.

Cardano’s latest technology design has been reviewed by various experts and specialized forums, highlighting the potential for change.

In particular, the data published by the analyst of the criptovalute known as “Chart World” suggests that the bull trend, established in December 2023, could lead to significant growth in the price of ADA in the coming months.

This pattern, which is almost identical to that seen in 2020, indicates the possibility of a similar meeting that occurred at that time.

According to information from InToTheBlock, the number of bear investors slightly exceeded that of bull investors last week.

This limited spread of “bears” may be one of the causes of the recent correction in the price of Cardano, which has seen a decrease of more than 4% in the last 24 hours.

At the price of $0.3438, The ADA has become a point of reference for those looking for signs of a change in standards.

Due to recent cuts, only 12% of ADA addresses remain in profit, which is a large percentage for such a large project.

This situation, however, may represent an opportunity for long-term investors.

In other words, a potential breakout will trigger a quick recovery, bringing the price back above the $0.5 limit and increase gain for multiple addresses.

The importance of the bull formation and the like in 2020

The type of pricing that ADA is currently following is of particular interest to analysts, as it is similar to the pattern already seen in 2020, before the price hike.

This similarity creates hope for the repetition of strong history. Especially with the approach of important events such as the American elections in mid-November, which can influence market sentiment.

ADA can certainly register a 90% increase if the rally is confirmed. This trend suggests a possible breakout in the coming weeks, due to bull action that could push the price above $0.5.

Elections and other macroeconomic factors can have a good result in the cryptocurrency market, providing the necessary support for the important ADA bull rally.

In addition, Cardano’s online data reveals that the token’s trading volume has decreased along with the price drop, as well as a decrease in open interest.

This combination of data suggests that a bearish trend may be imminent change. A decline in both of these metrics, when it occurs in conjunction with a decline in prices, often precedes a recovery.

In addition, the activity of the whale on Cardano, shown by the steady number of transactions recorded in the last seven days, suggests that there may be an accumulation of larger funds, which which bodes well for the future of the brand.

The stability of whale interactions is generally seen as a a sign of hopesuggests that overweight investors believe in ADA’s recovery in the medium to long term.

Technical indicators: Cardano is trying to resist the 20-day SMA

On a technical level, an analysis of the daily ADA chart reveals that the signal is trying to resist the 20-day SMA, as indicated by the Bollinger Bands.

Even in an area of ​​moderate volatility, a break above this resistance can cause a bull bull, giving rise to potential price increases.

Finally, even though the cryptocurrency market is in a bearish state, Cardano’s prospects seem promising.

Technical indicators and metrics of the chain indicate the possibility of a breakout, which can represent an opportunity for investors.

With a potential growth of up to 90%, ADA is preparing for a potential merger that could change the current situation and bring the brand to a new level.