Cardano Eyes $1.05–$1.08 Breakout After Triangle Completion
I see ADA breaking a multi-month triangle and trading with strong momentum; I expect a move toward $1.05–$1.08 over the next 2–3 weeks.
The RSI near 72 confirms bullish pressure, but I remain attentive to volume confirmation and potential short-term overbought re-tests.
I’ll manage risk with size control and a stop below the breakout/support level while targeting the cited range.
Analysis
Technicals show a triangle breakout and RSI at 71.96, indicating bullish momentum and a near-term target of $1.05–$1.08; confirmation via sustained volume and support hold will be decisive.
Recommendation
I recommend a buy stance with disciplined position sizing: enter on confirmation or measured scaling, set a stop below the breakout/support, and take profits around the $1.05–$1.08 range.
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.