Cardano Price Prediction: ADA Is On The Verge Of A Massive Breakout

Cardano has been making a lot of headlines these days due to all kinds of achievements that the team behind the project has been making.

There are various predictions about the price of the coin these days, and most of them are bullish. Check out the latest one presented by the online publication FXStreet.

Cardano is on the verge of a breakout

It’s been revealed that ADA is on the verge of a massive technical breakout as the European session is ushered in on Monday.

“The aspiring smart contract token has been in consolidation for several days. The sideways trading arrived after Cardano bulls secured support above $1. If the technical breakout materializes, ADA will be elevated more than 55% to new record highs, marginally above $1.8,” the online publication notes.

At the moment of writing this article, ADA is trading in the green and the coin is priced at $1.21.

The same online publication mentioned above notes that “The four-hour chart brings to light the formation of a symmetrical triangle pattern.”

They continued and revealed that “This pattern is not exclusively bullish or bearish. However, a break above the upper trendline would pave the way for a 55% upswing to $1.8. Note that triangles have exact breakout targets measured from the highest to the lowest points.”

Check out more info in the original publication. 

Cardano is transitioning into a decentralized system

Cardano is now transitioning into a decentralized system, and Charles Hoskinson is talking about this on social media. Check out his tweet below:

Also, it’s worth noting that the popular crypto analyst Lark Davis weighs in on the Cardano vs Ethereum debate. He addresses the pros and cons of each smart contract platform. Stay tuned for more news.

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