Cardano’s Triangle Breakout: 1,000% Surge to $10 ADA Imminent?

Technical charts scream bullish for Cardano as a textbook triangle pattern hints at explosive upside.

Patterns Don't Lie—Or Do They?

The symmetrical triangle on ADA's chart has traders buzzing. If history repeats, we're looking at a potential 10x rally—because crypto markets love round numbers and hopium.

Fibonacci levels align with the $10 target, though let's be real—most 'predictions' age like milk in a bull market. Meanwhile, institutional money keeps pretending they 'understand the tech' while chasing green candles.

Buckle up or get left behind. Just remember: triangles work until they don't.

Still, near-term volatility is likely, with the August 12 PPI and August 14 CPI inflation readings set to influence the Fed’s rate-cut timeline.

Markets Postion Ahead of a Cardano Surge

With this new uptrend, smart money is doubling down Cardano. Over the past 48 hours, whales have scooped up over 200 million ADA, underscoring growing bullish conviction.

Over 200 million Cardano $ADA bought by whales in the last 48 hours! pic.twitter.com/FCgCX15P3b

Coinglass derivatives data also shows surging speculative demand, with Open Interest picking back up 13% over the past week as traders actively engage with cardano price movements.

These derivative traders appear to be positioning for a continuation. A long/short ratio of 2.6 on Binance shows that over 72% of traders are betting on price increases.

Cardano Price Analysis: Is this a 10x Setup for ADA?

With the bounce from the 0.618, a common bottom market for steep corrections, the cardano bull run stands to continue with the breakout path of an 8-month descending triangle pattern.

The Cardano price now approaches a retest of its mid-July bull run top at $0.94, the last line of resistance for a 68% continuation to the triangles $1.30 target.

This comes as momentum indicators flash bullish for the first time since January. The RSI has reclaimed bullish territory above the neutral line at 55, suggesting buyer dominance.

The MACD line line has also forming a golden cross, surpassing the signal line. On the daily chart, this often signals a mid-term uptrend taking root.

However, with demand yet to be priced in with potential integration into the U.S. TradFi market, $1.30 could be the next price floor.

With 401(k) adoption, and the October 10 deadline for a spot Cardano ETF approval, the added fuel of rate cuts could attract fresh retail and institutional interest.

CARDANO ETF APPROVAL ODDS HIT 90%!

Bloomberg analysts now assign a 90% chance for a #Cardano ($ADA) spot ETF approval by the SEC in 2025.

Big money could soon find its way into #ADApic.twitter.com/I4iHrA6s8M

This comes on top of fundamental catalysts like the partner blockchain Midnight, bringing cross-chain adoption to the Cardano ecosystem.

With these stacking catalysts for demand, the Cardano price could advance to milestones like $3, $5, and $10—a potential 1,150% gain from current levels.

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