Cardano (ADA) and PYTH have been making their holders happy over the past week, as both are showing bullish momentum presently. PYTH’s price saw more than 20% pump, while Cardano’s price broke out yesterday.
Crypto analyst World of Charts shared this with his 34,00 followers on Twitter today. However, as these two tokens break out from their respective patterns, investors are watching the market for key price levels that could determine their next moves.
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PYTH’s Price Gains Over 20% Amid Bullish Breakout
World of Charts mentioned that PYTH is “moving towards targets with 20%+ profit so far.” This statement reflects PYTH’s price movement, which has broken out from a descending channel after months of downward pressure.
The breakout above the upper trendline has confirmed a bullish reversal pattern known as a descending broadening wedge.
With this momentum, the PYTH’s price has reached approximately 20% gains, which is in line with the expectations set by the analyst a week ago. The next key resistance level for PYTH lies around $0.70, while its support is around $0.30. If the bullish trend continues, PYTH’s price may push further toward this next resistance zone.
Read Also: Can SUI Price Replicate Solana (SOL) Last 150x Rally as Bullish Metrics Rise?
Cardano’s Price Breaks Out, Eyeing $1 Target
Cardano’s price action has also sparked excitement in the market. According to World of Charts, ADA has confirmed its breakout as expected, with the next target set at $1. The breakout came from a descending channel, a pattern that frequently leads to a strong upward movement once resistance is cleared.
Cardano’s chart shows that it has broken through its previous resistance at $0.35, and the next significant barrier lies at the $1 level. This psychological and technical resistance will be closely monitored, as Cardano could face some volatility before reaching it.
Furthermore, both tokens are navigating well-defined support and resistance levels. For PYTH, the current support level stands at $0.30, while resistance is projected at $0.70. Cardano, on the other hand, is supported by the $0.35 level with a $1 target ahead.
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