Cardano price is treading dangerously close to breaching the hypotenuse of an ascending triangle pattern. If ADA manages to climb above the 4-hour 200 SMA at $1.15, the bullish scenario will stay alive. A decisive close above $1.48 would hint at kickstarting a 46% upswing to $2.15. Cardano price is showing signs of indecisiveness as it trades along the hypotenuse of an ascending triangle pattern. Cardano price trudges around a critical level On the 4-hour chart, the Cardano price has created multiple higher lows, showing the presence of aggressive buyers. However, sellers present along the supply barrier at $1.48 have successfully prevented these swings from passing over. This price action results in an ascending triangle formation, which predicts a 45% bull rally if ADA price convincingly slices through $1.48 with a strong surge in volume. However, at the time of writing, buyers seem to be seen nowhere, as Cardano price came very close to breaching the pattern’s hypotenuse. If the bulls make a comeback that pushes ADA higher, then a swing high towards the triangle’s base can be expected. This move would be the result of a 30% pump in ADA’s market value. A confirmation of this bull run will come after Cardano reclaims the 200 Simple Moving Average on the 4-hour chart. Such a development is likely to instill confidence in the sidelined investors triggering a run-up to $1.48. A decisive close above this level due to the continuation of this upward momentum could result in ADA hitting its intended target at $2.15, coinciding with the 127.2% Fibonacci retracement level. ADA/USDT 4-hour chart If Cardano price breaches the hypotenuse at $1.09, leading to a decisive close below the immediate support level at $0.98, it would invalidate the bullish outlook and catalyze a bearish run. In such a case, ADA could slide 10% toward a demand barrier at $0.88. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY Forecast: Still room for extra upside FX Street 2 years Cardano price is treading dangerously close to breaching the hypotenuse of an ascending triangle pattern. If ADA manages to climb above the 4-hour 200 SMA at $1.15, the bullish scenario will stay alive. A decisive close above $1.48 would hint at kickstarting a 46% upswing to $2.15. Cardano price is showing signs of indecisiveness as it trades along the hypotenuse of an ascending triangle pattern. Cardano price trudges around a critical level On the 4-hour chart, the Cardano price has created multiple higher lows, showing the presence of aggressive buyers. However, sellers present along the supply barrier at $1.48 have… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.