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Cardano price showed recovery marks after a modern decline, with the encoded currency from the low support level. Over the past 24 hours, Cardano has gained approximately 1 %, and has reached the highest level during the day at $ 0.7613. This small but prominent recovery drew the attention of technical analysts, and an interesting analysis shows that the original has been circulated in a well -defined plan for several months.
In particular, the technical analysis of the Cardano/USDT scheme for the time frame shows that the encrypted currency is circulating inside a triangle and may now prepare for a processor to $ 1.5.
Triangle form
A Modern analysis on Tradingview has highlighted that Cardano has been circulated in a triangular style on the daily timeline since November 2024. The pattern is highlighted through a series of lower heights and higher declines, and the formation of a formation of lower and upper trend lines. The last decrease in the price saw Cardano Drop from A height of $ 1.1747 before the support is found in the lower limits of the triangle at $ 0.647.
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In the direction of his performance inside the triangle during the past six months, the next day Move after this support It is another gathering towards the upper direction line. It seems that the last batch during the past 24 hours enhances training, as it may represent The beginning of payment towards The level of the upper resistance.
The main fast food of this triangle formation is the possibility of an explosive step once Cardano is re -testing to the upper direction line of this triangle again. According to the analyst, if Cardano prices are higher than the upper trend line, this may cause a $ 1.5, which is 100 % ranting than the current price level.
Can Ada reach $ 1.5? Resistance and area collapse to watch
The Triangle’s upper trend line is the most important resistance level for Cardano price. Cardano has tested this resistance about three times since November, which made any coming approach a pivotal moment for the price track. If buyers gain enough momentum and pay the price after this barrier, this may follow the rapid collapse, and the original may be sent Toward expected $ 1.5 target. However, there is still another rejection possible here, especially given the market Go to a declining feeling In the past few days.
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Market morale will significantly affect whether Cardano will achieve the expected goal. The general trend of the encryption market, Especially the Bitcoin movement, Cardano speed will affect this level. In particular, the rate that Cardano approaches this upper trend will determine whether there is sufficient force to break the top of the upper direction.
At the time of this report, Cardano is traded at $ 0.7205, and there is even the possibility to re -test the trend line again in the next few hours.
Distinctive image from Istock, Chart from TradingView.com
