Cardano Surges Above $0.85, Potential Bullish Breakout Observed
Cardano has surpassed the $0.85 mark, indicating a potential bullish breakout in its 4-hour price chart.
Key Developments
- Technical analysis identifies a Falling Wedge pattern forming in Cardano's price action.
- The Falling Wedge suggests a likelihood of reversal, with recent price movements consolidating within converging trendlines.
- A breakout above $0.84 is necessary to confirm the bullish trend.
- Current price is approximately $0.851, showing an increase of nearly 4% over the past week.
In contrast, Solana is moving within a Rising Wedge pattern, which may indicate a potential bearish breakout.
