Indicator That Called Bitcoin’s (BTC) All-Time High Shows Cardano (ADA) Is Going ‘Parabolic’

Crypto analyst Trend Rider has ignited excitement among the Cardano community by forecasting a potential parabolic rise for the ADA token. According to their analysis, a critical indicator that accurately predicted Bitcoin’s previous all-time high is signalling a similar trajectory for Cardano.

The analyst, known as @TrendRidersTR on X (formerly Twitter), shared their findings: “Cardano (ADA) is going parabolic, just like it did in the past bull market when it surged from $0.20 to $3.0.” They cited a confirmed cross of their “parabolic red line” – the same indicator that foresaw Bitcoin’s record-breaking price months ago.

Sustained Uptrend Hinges on Weekly Close

However, Trend Rider cautioned that a weekly close below the red line could invalidate the bullish outlook. “When to reevaluate? If there is a close below the red line again on the weekly timeframe,” they advised the Cardano community.

Consequently, the analyst’s optimistic projection has fueled anticipation among ADA holders, with the rallying cry, “Are you ready, Cardano fam?”

Cardano’s Real-World Adoption Gains Momentum

Moreover, Cardano’s growing real-world adoption has added further tailwinds to its price momentum. Notably, the Altcoin Daily X account reported that Cardano now powers the United Arab Emirates criminal investigation force, as announced by the Dubai Police at the World Police Summit.

Against the backdrop of this news, the latest data from CoinMarketCap reveals that Cardano’s price stands at $0.748894, with a 24-hour trading volume of $1,226,567,302. Additionally, the asset has witnessed a 1.31% increase in value over the past 24 hours.

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As the Cardano ecosystem continues to evolve and garner recognition, the cryptocurrency’s price trajectory will undoubtedly be a subject of intense scrutiny, especially in light of the bullish predictions fueled by the parabolic indicator.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.