Cardano Price Setups Suggest 30% Upside as Fed and ETF Outlook Shift
Cardano (ADA) showed technical signals of a possible rally. Analysts said the token could advance nearly 30% as patterns aligned with potential macro and regulatory catalysts.
Was the combination of chart signals and policy shifts enough to sustain a breakout?
Cardano Price Showed Bullish Reversal Signals
Analysts said the Cardano price stayed above the 100-day Exponential Moving Average (EMA). The EMA often acted as a support level during past recoveries.
The token also reacted near levels identified by the Murrey Math Line tool. The tool marked support and resistance points where price reversals often occurred.
Chart patterns reinforced the outlook. Analysts noted a bullish flag, which followed a sharp rise with a short pullback. The flag pattern often resolved upward.
They also identified an inverse head-and-shoulders formation. This setup is viewed as a reversal that signals potential long-term strength.
If confirmed,...