Cardano’s ADA Chart “Couldn’t Look Any Better” As Indicators Flash Bullish – Analyst Updates XRP Outlook
A recent video analysis by crypto expert Crypto Capital Venture suggests promising outlooks for the cryptocurrencies Cardano (ADA) and XRP. He analyzes the monthly price charts and crucial indicators for both coins, noting that technical signals point to impending major bull runs.
“Cardano on the monthly just could not look any better,” the analyst remarks when examining the ADA chart. He points specifically to the Moving Average Convergence Divergence (MACD) indicator nearing a crossover on the monthly time frame. If the MACD line crosses above the signal line, it would indicate a historic shift from bearish to bullish momentum for Cardano.
The timing aligns well with market cycle analysis that we are between Bitcoin halvings, usually a prelude to market uptrends. The Relative Strength Index (RSI) also shows Cardano emerging from oversold conditions. Additionally, Cardano is outperforming its previous cycle by moving upward sooner than before.
“If we can manage to get a green month and see this MACD cross the signal line, this is going to be a historic moment for ADA,” the presenter notes. “The pivot from the bear to the bull for Cardano is almost here.”
The analyst remains highly optimistic on ADA given the impending launch of Cardano DeFi capabilities. He believes the combination of technical factors and fundamental development will make the coming Cardano bull run “explosive.”
For XRP, the presenter discussed its pending SEC case resolution expected in July 2023 and the major bullish breakout that could follow. He stated “For XRP, the leash is coming off” once regulatory clarity is achieved.
The host believes XRP is well-positioned entering the next bull cycle, analyzing its higher monthly lows and its strong technical setup. He mentioned the false news of BlackRock’s alleged XRP trust filing, noting “XRP is one of the most clearly positioned cryptos besides Bitcoin as we’re getting ready to go into this bull market.”
Read also:
- Top Analyst Identifies a “Red Flag” in Bitcoin (BTC) On-Chain Indicators
- Bearish Market Drags Down Bitcoin and Ethereum While This Altcoin Shines
- Investor Alert: Cardano (ADA) and Meme Moguls (MGLS) Surge Amidst Market Volatility!
Overall, the in-depth technical analysis provided a positive outlook for both Cardano and XRP as the cryptocurrency market aims to exit the bear cycle based on key indicators in their monthly charts and upcoming fundamental catalysts. The video emphasized the significant upside potential for both ADA and XRP.
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