In this video, I discuss the significant developments in the Cardano (ADA) market, emphasizing a crucial move observed on the six-hour chart and its implications on a larger scale. Starting with a zoomed-in analysis, I reflect on a clip from November 17, examining ADA’s performance at the 20-day moving average and the breakout to the upside, forming an ascending triangle that recently culminated in hitting a 45 cent target. I delve into the short-term potentials and risks, pivoting to weekly and monthly charts to analyze ADA’s macro movements. I highlight the importance of ADA breaking past key resistance levels, particularly the 45 cent region, and its potential to define a significant higher high, indicating a shift from bear to bull market dynamics.
Additionally, I examine ADA’s position in the broader crypto market cycle, especially pre-halving, and the implications of its current trendline breakouts. I explore the monthly RSI and compare current momentum with previous cycles, suggesting a strong upside potential for ADA. I also touch on the broader Cardano ecosystem, its native tokens, and the potential parallels with Ethereum’s previous bull market. Finally, I acknowledge the resistance ADA faces and the possibility of retracements, inviting viewers to share their thoughts and continue the discussion in the comments.
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Short term ADA target hit 00:30
Huge resistance right now 2:30
If Cardano price falls now 4:30
The flip to bull market 7:30
If ADA keeps going up now 8:00
Cardano bull launchpad! 8:40
Insane monthly momentum chart! 9:10
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