An analyst has explained how, if the historical pattern followed by the ADA price is to be believed, Cardano seems ready to go on a parabolic bull run. Cardano May Be Set For A Bull Run Based On Historical Trends In a new post on X, analyst Ali Martinez has discussed what hints history may contain regarding where ADA’s price would go next from here. First, here is a chart shared by the analyst that shows the trend the cryptocurrency followed back in 2019: The pattern that the price of the asset followed a few years back | Source: @ali_charts on X From the graph, it’s visible that the asset had first consolidated inside a parallel channel during this period. A “parallel channel” in technical analysis (TA) refers to the region bounded by two parallel trend lines. Related Reading: Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die” The upper line of the pattern connects the tops in the price, while the lower one joins the bottoms. When consolidating inside the channel, the price is ..
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