ADA Surges 70%: Bullish Breakout Predicts 90% Upside
1min read Cardano (ADA) Price Prediction for March 3
ADA, the native token of the Cardano blockchain, has shown bullish momentum and is poised for a significant upside rally following recent developments. The broader cryptocurrency market, particularly ADA, has been fueled by the Crypto Strategic Reserve announcement, resulting in a 70% upside momentum.
This significant price rally has triggered a breakout of the bullish price action pattern that ADA has formed on the weekly timeframe. According to expert technical analysis, ADA has broken out of a bullish flag and pole price action pattern on the weekly timeframe, which began forming in December 2024. The price moved in a downtrend since then, but today's 70% upside rally has breached this bullish pattern, paving the way for a potential 90% upside move.
Based on recent price action and historical momentum, if ADA closes a weekly candle above the $1.05 level, there is a strong possibility that it could soar 90% to reach the $1.90 mark in the future.
Following this notable price surge, ADA has once again moved above the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that the asset is now shifting into an uptrend. ADA is currently trading near $1.05 and has surged over 70% in the past 24 hours. However, a significant portion of this rally occurred within the last 120 minutes. During the same period, the asset's trading volume jumped by 800%, indicating heightened participation from traders and investors following ADA's inclusion in the Crypto Strategic Reserve.
