ADA, the native token of the Cardano ecosystem, has experienced a notable surge in price, taking advantage of Bitcoin’s (BTC) stagnation above the $52,000 level. With gains of 20% and 14% over the past thirty and fourteen days, respectively, ADA has reignited bullish sentiment among investors.
The token’s recent performance has not gone unnoticed, as crypto analyst “Trend Rider” makes a bold price prediction, highlighting key indicators that suggest a potential long-term bull run for ADA.
ADA’s Potential Bull Run Ahead
In a social media post on X (formerly Twitter), Trend Rider emphasized that ADA is striving to consolidate above the crucial $0.600 mark, which holds significant prospects for the token’s future.
The analyst drew attention to an indicator called Impulse colors, which tracks the price distance from key moving averages. During the bear market, opposing trends were predominantly indicated by fuchsia and pink hues as seen in the chart below.
However, recent weeks have witnessed a return to dark blue, the most bullish color on this scale. Notably, this shift in momentum last occurred in 2020 when ADA’s price surged from $0.03 to $1.4 before the re-emergence of pink hues.
Furthermore, Trend Rider highlighted another positive development— the Wave Oscillator has re-entered the positive zone after 20 months. According to the analyst, this shift indicates growing bullish momentum for ADA.
The pivotal level identified in this context is the $0.60 mark. To solidify this shift, ADA’s price must hold and close above $0.60, which may catalyze a bullish long-term breakout.
It is worth noting that this analysis is based on the 1-month timeframe, which significantly influences long-term market movements.
These indicators suggest that ADA may be poised for a sustained uptrend, potentially paving the way for a long-term bull run.
Cardano Sustained Bullish Trend
According to the one-day ADA/USD chart below, Cardano’s token reached a 21-month high of $0.679 on December 28, which marked the beginning of a period of volatility in ADA’s price. Following a price correction, ADA dropped to $0.449 on January 23.
However, in line with the overall market trend, ADA has regained bullish…
Click Here to Read the Full Original Article at NewsBTC…
