ADA poised for a 70 increase as this trend unfolds

Cardano (ADA) is on the verge of a major bullish surge, possibly rising by 70%, after breaking out of a falling wedge pattern, a technical formation that often signals a bullish reversal.

During the March bull run, ADA hit a yearly high before entering a consolidation phase in a falling wedge pattern. This phase has now concluded with a bullish breakout, indicating a potential upward momentum for ADA.

Captain Fabik, a crypto analyst, highlighted the confirmed falling wedge breakout on ADA’s daily chart, with the token surpassing the crucial $0.407 price mark. He predicted a 72.84% surge from the breakout point, supported by increased volume and positive momentum indicators.

Market expert Jesse Olson also pointed out a pending buy signal on ADA’s daily chart, accompanied by bullish targets set for the token. Several technical indicators, including a confirmed bullish divergence, an RSI buy signal, and a MACD bullish crossover, further support the bullish sentiment for ADA.

The confirmed breakout from the falling wedge pattern, along with positive volume and momentum indicators, lays a solid technical foundation for ADA’s bullish outlook. Additionally, the upcoming Cardano Chang Hard Fork, set to introduce new governance features, is expected to boost investor confidence and price.

At present, ADA is trading at $0.40, with a 2% decline on the daily chart. Investors and traders are advised to consider entering positions at the current price, taking advantage of the confirmed breakout and bullish sentiment. Potential pullbacks to support levels around $0.407 could provide additional entry points, with a projected upside of 70%, targeting $0.704.

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