Cardano (ADA) All Set for a 10x Rally to $10, Says Top Analyst

On-chain data shows Cardano whales with a balance of at least 100 million coins have accumulated 200M ADA in the last 2 days. The upcoming Midnight Upgrade will boost Cardano’s on-chain activities, and further bolster the bullish outlook. Technical analysis suggests the ADA/USD pair has followed a similar fractal pattern to the 2021 bull cycle. Cardano (ADA) price has gradually signaled a midterm and macro bullish outlook. The large-cap altcoin, with a fully diluted valuation of about $36.9 billion, rallied 12% in the last seven days to trade at about $0.822 on Monday, August 11, during the early London session. Source: TradingView This recent rebound was marked by a daily “golden cross” between the 50 and 100 Simple Moving Averages. That mid-term bullish sentiment is being reinforced by the weekly MACD indicator, which has also flashed a buy signal. Today’s ADA Outlook: The long-term chart looks bullish, but what about right now? Here’s CoinEdition’s specific price prediction for ADA today, August 9. Source: TradingView Notably, the weekly MACD line and the Signal line crossed above the zero line amid the rising bullish histograms. Meanwhile, the… The post Cardano (ADA) All Set for a 10x Rally to $10, Says Top Analyst appeared first on Coin Edition .

Source: Coin Edition