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Cardano Prediction – Will Cardano Surge to $5 With the New Rise?

 


Cardano price was able to make a higher high with the recent climb by surging above $1. After the price reached the $1.19 resistance, it started a correction. However, this correction has not resulted in a lower low, which is absolutely bullish! With the price now making a higher low than before, an uptrend now seems intact. Once Cardano price breaks through $1 and recaptures support, we expect a new higher high. This high could break the $1.19 resistance. We see a move to the next resistance of $1.485 as not unlikely, which is why this level is our next target.

If a trend reversal should now occur, the Cardano price could set a new all-time high. However, a lot has to happen before we can expect a new all-time high to be formed. The price must break the $1, $1.19 and $1.485 resistances to rally to $2. After that, it will have to break the $2.30 resistance to have any chance of forming a new all-time high. If all resistances are broken sustainably, we could imagine that the Cardano price will rise to $5. Corrections after resistance is broken are not unlikely, so a good entry point could always be found.

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