Cardano Price: Bullish Cup & Handle Signals $1.30 Surge

Cardano Price Eyes $1.30 Surge with Bullish Cup & Handle

Cardano price has seen a slight surge to $0.9756, surging by 7%. The ADA price forms a Cup & Handle, signaling a potential bullish continuation. ETF speculation could boost market liquidity and ADA’s investor appeal.

Cardano price is navigating a bull market trend despite ongoing consolidation within a bullish pattern. Notably, ADA has experienced significant movements amidst a modest market upturn, where bulls are attempting a rally. Meanwhile, Bitcoin maintains a position above $104,000 after its recent recovery. Cardano’s price is poised for a potential rise to $1.30, signaled by a promising Cup & Handle formation.

Cardano price analysis suggests a significant bullish pattern, and the “Cup and Handle” is nearly complete. This pattern, supported by a vital trend line and key zone, indicates a potential upward breakout. Currently, Cardano is in a re-accumulation phase, poised to breach a major resistance level.

Expectations are set for the price to hit $1.30 first, followed by a climb to $1.7961 if momentum continues. Traders are watching this price movement closely, hoping for a breakout to confirm the bullish forecast.

Cardano price may see increased market dynamics due to upcoming financial products. Tuttle Capital has proposed leveraged ETFs that target ten different cryptocurrencies, including ADA. These ETFs could enhance market liquidity and present heightened opportunities for institutional and retail investors if regulatory approval is granted.

The latest ADA price trades at $0.9756, showing a slight surge of 7% in the past few hours. Cardano’s current price movement reflects a consolidation phase within a defined range. The resistance at $1.10 remains formidable, with the support level anchored at $0.90.

The Relative Strength Index (RSI) stands at 55, indicating a slight bullish momentum but still away from overbought territory. The Chaikin Money Flow (CMF) displays a positive value of 0.19, hinting at growing buying pressure.

Cardano price prediction eyes the critical $1.10 resistance level as a pivotal