Cardano (ADA) Price Approaches ‘Bull Market Door’: What’s Next?
Main Idea
Cardano (ADA) is showing strong breakout potential with its price approaching $1, and a key resistance level at $1.25 could signal the start of a new bull market.
Key Points
1. Bitcoin's dominance must decline for altcoins like Cardano to sustain their rally.
2. Cardano's current price setup resembles past bullish patterns, with a low risk score and a green MACD on the weekly chart.
3. The next major price targets for ADA are $1.00 to $1.15, with $1.20 to $1.25 being the critical 'bull market door' level.
4. Breaking above $1.25 could indicate a full trend reversal and the beginning of a long-term rally for ADA.
Description
Altcoins turning green as Bitcoin dominance nears a key support. Bitcoin dominance must fall for altcoins to keep rallying strong. Cardano shows breakout signals, with price climbing toward $1. The crypto market is showing signs of change. While Bitcoin’s price remains flat, many altcoins are turning green, an indication that “altcoin season” is beginning. But for this shift to continue, Bitcoin dominance needs to drop below a certain support level. Earlier, in November, Bitcoin dominance starte...
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