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Three Technical Reasons Suggest Cardano (ADA) Surge On Horizon

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ADA/BTC is looking prime for an explosion higher from a technical analysis perspective. He specifically looked at three factors:

 ▪ Firstly, the trading pair has seen nearly six months of accumulation in a relatively tight range, with ADA failing to break below key support levels but also failing to move above resistance. The strong accumulation pattern near the lows could suggest a rebound is forming.
 ▪ Secondly, the daily Ichimoku Cloud, which is a sort of all-in-one indicator tracking key price levels and market trends, has turned bullish for Cardano against Bitcoin. A bullish cloud predicted Bitcoin’s price explosion from the low-$7,000s to $9,200 which we just saw.
 ▪ And lastly, should ADA make an end-to-end Ichimoku Cloud move as the pair moves above key resistances, the price of the cryptocurrency could more than double within a few months’ ti me.
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