The sixth-largest cryptocurrency by market cap, Cardano, has gotten the buying pressure needed to resume its bull run following a high correction. Now that sidelined investors have actually re-entered the marketplace, ADA looks primed for brand-new all-time highs.
Cardano Prime for a Massive Bull Run
Cardano broke out of an inverted head-and-shoulders formation after consolidating for more than 2 years.
Moving past the $0.21 resistance barrier on Jan. 4 signaled the start of a new bullish cycle on this altcoin’s pattern. By measuring the range between the head and the neckline of the technical pattern and adding it to the breakout point, ADA faces an upside target of more than 900%.
If confirmed, ADA could see its market value rise towards $2 as forecasted by the inverse head-and-shoulders.