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Cardano’s price is consolidating inside a symmetrical triangle in the hourly chart. Analyst predicts a 30% upsurge in the next few days.
Over the past two weeks, ADA has been consolidating inside a symmetrical triangle on its hourly chart and is approaching a breakout. This follows a retest of its ascending trendline within this pattern formation. In the past 24 hours, the coin has seen its open interest rise 3.13% per Coinglass data.
According to his technical analysis, analyst Ali Martinez predicts ADA could rally 30% following a retest of its ascending support trendline as the bulls step in to strengthen the uptrend momentum.
If ADA closes above $0.64 with high buying pressure, this is possible in the next few hours to days. However, one should watch out for any signs of exhaustion, where a decisive drop under $60 could lead to a further downside.
