{"id":561161,"date":"2023-11-17T23:00:59","date_gmt":"2023-11-17T23:00:59","guid":{"rendered":"https:\/\/wncen.com\/?p=561161"},"modified":"2023-11-17T10:13:38","modified_gmt":"2023-11-17T10:13:38","slug":"cardano-falling-wedge-100","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-falling-wedge-100\/","title":{"rendered":"Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout"},"content":{"rendered":"

Cardano may not be a top gainer in the crypto market but that does not mean that it has fallen behind. During the altcoin rally, the price of Cardano\u2019s native coin ADA<\/a> has gone from a low of $0.25 to a high of almost $0.4 before correcting back downwards. This positive trend has been preserved even through the crypto market dip and it seems that there is only one thing in the way of Cardano\u2019s rise<\/a> to a new yearly high.<\/p>\n

Falling Wedge Pattern Holds Back Cardano<\/h2>\n

According to a crypto analyst on the TradingView website, the one thing that is holding back the Cardano price<\/a> from mounting a full-blown rally is a falling wedge pattern which it is currently stuck in. This falling wedge pattern has appeared as the ADA price has retraced and then eventually recovered.<\/p>\n

Related Reading: Bitcoin Open Interest Tops 19-Month High: Historical Data Shows What To Expect<\/a><\/div>\n

The crypto analyst who goes by CobraVanguard identifies<\/a> this falling wedge pattern as the important pattern to break for ADA<\/a>. As with any cryptocurrency, if ADA is able to break out of this pattern, then a massive rally could follow, ending in a high peak.<\/p>\n

\"Cardano<\/p>\n

Source: Tradingview.com<\/a><\/pre>\n

CobraVanguard\u2019s price target after breaking out of this falling wedge pattern is over the $0.7 level. Following this trend would mean that the ADA price<\/a> could rise another 100% from its current level, putting it on a recovery path similar to that of Solana (SOL).<\/p>\n

The initial target for this recovery is at $0.57 where a small retrace is expected. Afterward, the crypto analyst sees another surge that takes it straight through the $0.78 mark. Then just below $0.8 is where resistance is expected.<\/p>\n

\"Cardano<\/p>\n

ADA bulls still holding up price | Source: ADAUSD On Tradingview.com<\/a><\/pre>\n

ADA Whales Ramping Up Their Activity<\/h2>\n

As the bull case for Cardano continues, the ADA whales<\/a> are not being left in the sidelines. As data<\/a> from IntoTheBlock shows, these large investors have been increasing their activities across the network, especially in the last day.<\/p>\n

The number of large transactions on the Cardano network, that is transactions carrying $100,000 or more, jumped significantly in the 24-hour period. November 15 numbers came out to 4,320 whereas this number grew to 6,110 on November 16.<\/p>\n

Related Reading: Ethereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000<\/a><\/div>\n

Naturally, the transaction volumes of these large investors<\/a> are also up during this time. It rose from around $7.2 billion on Wednesday to more than $10.46 billion on Thursday, with more than 27.2 billion ADA moved across these transactions.<\/p>\n

These trends among these large investors<\/a> could suggest that the anticipation for a bullish run isn\u2019t localized to just smaller investors alone. So whales could be waiting for better prices before they begin profit-taking.<\/p>\n

Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Crypto News, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano may not be a top gainer in the crypto market but that does not mean that it has fallen behind. During the altcoin rally, the price of Cardano\u2019s native coin ADA has gone from a low of $0.25 to a high of almost $0.4 before correcting back downwards. This positive trend has been preserved even through the crypto market dip and it seems that there is only one thing in the way of Cardano\u2019s rise to a new yearly high. Falling Wedge Pattern Holds Back Cardano According to a crypto analyst on the TradingView website, the one thing that is holding back the Cardano price from mounting a full-blown rally is a falling wedge pattern which it is currently stuck in. This falling wedge pattern has appeared as the ADA price has retraced and then eventually recovered. Related Reading: Bitcoin Open Interest Tops 19-Month High: Historical Data Shows What To Expect The crypto analyst who goes by CobraVanguard identifies this falling wedge pattern as the important pattern to break for ADA. As with any cryptocurrency, if ADA is able to break out of this pattern, then a massive rally could follow, ending in a high peak. Source: Tradingview.com CobraVanguard\u2019s price target after breaking out of this falling wedge pattern is over the $0.7 level. Following this trend would mean that the ADA price could rise another 100% from its current level, putting it on a recovery path similar to that of Solana (SOL). The initial target for this recovery is at $0.57 where a small retrace is expected. Afterward, the crypto analyst sees another surge that takes it straight through the $0.78 mark. Then just below $0.8 is where resistance is expected. ADA bulls still holding up price | Source: ADAUSD On Tradingview.com ADA Whales Ramping Up Their Activity As the bull case for Cardano continues, the ADA whales are not being left in the sidelines. As data from IntoTheBlock shows, these large investors have been increasing their activities across the network, especially in the last day. The number of large transactions on the Cardano network, that is transactions carrying $100,000 or more, jumped significantly in the 24-hour period. November 15 numbers came out to 4,320 whereas this number grew to 6,110 on November 16. Related Reading: Ethereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000 Naturally, the transaction volumes of these large investors are also up during this time. It rose from around $7.2 billion on Wednesday to more than $10.46 billion on Thursday, with more than 27.2 billion ADA moved across these transactions. These trends among these large investors could suggest that the anticipation for a bullish run isn\u2019t localized to just smaller investors alone. So whales could be waiting for better prices before they begin profit-taking. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from Crypto News, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":561167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,84005,89457,14643,79508,12332,6664,26263,14690],"class_list":["post-561161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-ada-price-performance","tag-adausd","tag-adausdt","tag-cardano","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nCardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout<\/title>\n<meta name=\"description\" content=\"Cardano may not be a top gainer in the 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout","url":"http:\/\/wncen.com\/news\/cardano\/cardano-falling-wedge-100\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/cardano-falling-wedge-100\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Cardano-ADA-Small-1.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Cardano-ADA-Small-1.jpeg?fit=320%2C183"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","ada price performance","adausd","adausdt","cardano","crypto","crypto analyst","crypto news"],"dateCreated":"2023-11-17T23:00:59Z","datePublished":"2023-11-17T23:00:59Z","dateModified":"2023-11-17T23:00:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-falling-wedge-100\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-falling-wedge-100\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Cardano-ADA-Small-1.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Cardano-ADA-Small-1.jpeg?fit=320%2C183\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"ada price performance\",\"adausd\",\"adausdt\",\"cardano\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2023-11-17T23:00:59Z\",\"datePublished\":\"2023-11-17T23:00:59Z\",\"dateModified\":\"2023-11-17T23:00:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Cardano-ADA-Small-1.jpeg?fit=320%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561161"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=561161"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/561167"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=561161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=561161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=561161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}