Cardano’s price has risen by 2.42%, reaching $0.3461. Historical patterns indicate that ADA might experience a rally around mid-November. Despite recent downturns, the overall crypto market has shown a strong recovery, with Bitcoin’s $71K surge lifting several altcoins.
Cardano’s 2.42% gain today has sparked interest among traders, with analysts forecasting promising returns in the upcoming bull rally. According to Ali charts, ADA’s current movements are reminiscent of its 2020 cycle, leading to speculation that ADA could replicate its past performance and reach new peaks. Historical trends suggest a potential rally around mid-November, with an eye on reaching a market high by September 2025.
With the current bullish trend, ADA has recorded a daily high of $0.35, and trading volume has surged over 53.75%, according to CMC data. Although ADA dropped 4.20% last week, falling from $0.3674 to $0.3208, the bearish sentiment has started to fade with November approaching.
Can ADA See a Bullish Shift?
Examining ADA’s four-hour technical chart, the market sentiment is currently neutral, with the RSI at 57. The 9-day moving average is above the 21-day MA, while the MACD is also above the signal line, signaling a bullish outlook and the potential for an upcoming rally.
The Chaikin Money Flow (CMF) indicator reads 0.11, reflecting increased money flow with a positive sentiment. ADA’s trading volume stands at $298 million.
The four-hour ADA price chart shows upward momentum, having breached the $0.3400 mark. Should this trend continue, ADA may test resistance at $0.3572 and potentially reach new highs. Conversely, if momentum slows, ADA could dip to $0.3364 or lower if support levels fail to hold.
