Cardano’s ADA Faces Pivotal Weeks, ‘When It Performs, It Comes Out of Nowhere’ says Top Analyst – Here’s His Outlook
Crypto Capital Venture, a popular YouTube channel with over 330k subscribers, has shared some optimistic views on Cardano’s ADA recently.
“I want to discuss what this means for institutional investors flowing into Cardano. The time is coming; it is approaching,” said the channel’s host. He believes that with the introduction of new crypto sector indices, the door could soon open wide for major institutional exposure to ADA.
ADA has been struggling to regain momentum after the crypto downturn last year. “The weekly chart is important to me… the 20-week moving average is huge for Ada,” the host explained. “It’s still been a story of Ada trying to get back above the 20-week moving average.”
If ADA can break decisively above this key resistance level, it could be a major bullish signal. “If Ada can actually break above the 20-week moving average in this red rectangle, it will also, similar to Bitcoin, be kind of diverging in a power move away from the last cycle,” he noted.
The host acknowledges ADA’s tendency for long periods of consolidation followed by explosive moves. My view on Cardano is Cardano can be frustrating at times, but when it performs, it comes out of nowhere, and it absolutely explodes,” he said.
Currently trading around $0.28, ADA is up 13% over the past week. If it can push above the $0.30-$0.31 resistance zone, that could spark the next leg up according to the host. “If Ada can make its way to the 30-31 cent area of resistance at the 200, can we break above that and start getting a continued bullish move for Ada?” he pondered.
With increasing institutional interest and technical signals potentially turning bullish, ADA could be gearing up for major upside according to this popular crypto analyst. The coming weeks will be pivotal in determining if Cardano’s native token can break out of its long consolidation phase.
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