Cardano's Corrective Phase Could End Soon, Potential 'Impressive Bull Run Ahead,' Writes Analyst
Portfolio Pulse from Khyathi Dalal
Technical analyst Ali Martinez suggests Cardano (ADA) may be on the verge of an impressive bull run, drawing parallels to its 2019 performance. Martinez's analysis, based on the TD Sequential indicator, indicates a potential end to ADA's corrective phase, which has seen a recent 50% price correction after a 72% surge. ADA's current price is $0.4638, reflecting a 2.1% increase over the past 24 hours.
May 03, 2024 | 7:21 pm
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Ali Martinez's analysis suggests Cardano (ADA) might be preparing for a significant bull run, similar to its 2019 performance. The recent 50% price correction, following a 72% surge, is seen as a potential buying opportunity before the next rally.
Martinez's analysis is based on the TD Sequential indicator, which has historically timed Cardano's peaks accurately. The comparison to the 2019 cycle, where ADA saw a significant rally after a similar pattern, supports the potential for a bullish trend. The recent price correction is viewed as a consolidation phase, typically followed by a price increase.
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