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Cardano Eyes $1 After Triangle Break — Momentum Holds Despite Overbought Readings

I see Cardano trading around $0.93 after a breakout-driven surge that briefly touched $0.9990. The move followed a multi-month triangle break and has moved price into a consolidation phase.

Technicals show overbought readings, but bullish momentum remains intact, suggesting the breakout has substance even if a short-term pullback is possible.

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Analysis

Price consolidation after a triangle breakout with overbought indicators indicates a healthy pause rather than an immediate reversal; maintaining above the breakout level would favor continuation towa...

Recommendation

I view this as a buying opportunity, but I will manage risk tightly given overbought conditions—prefer adding on confirmed support or a shallow pullback and using stops to protect gains.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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