![Ultra-Bullish Cardano Price Pattern No One Talks About](https://u.today/sites/default/files/styles/736x/public/2024-07/50248.jpg)
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
An interesting situation has formed on the price chart of Cardano (ADA), drawing the attention of keen market observers. Over the last four months, Cardano's price has been on a relentless decline.
However, it has now arrived at a crucial support level, historically significant in its pricing trajectory. The $0.35 mark per ADA is particularly noteworthy, as it was the price point where Cardano's value surged following its 2018 listing on Binance, the world's largest exchange. This level has consistently served as a pivotal support or resistance point for ADA.
Recently, this support level has proven its strength once again. After a 12% drop last week, Cardano's price held firm at $0.35. Following this stabilization, the weekly candle closed above this mark, leading to an epic 15.3% increase in ADA's price over the next four days.
![Article image](/sites/default/files/inline-images/ADAUSDT_2024-07-11_18-47-10.png)
What makes this rise even more intriguing is that it occurred on relatively low trading volumes. Despite being the 10th largest token by market capitalization, Cardano's trading turnover places it only in 17th place.
Under the radar
While trading activity for ADA is currently subdued and market participants' attention is diverted elsewhere, the token is quietly experiencing its own mini bull rally.
![Article image](/sites/default/files/inline-images/cqardano.png)
This pattern suggests a potential ultra-bullish trend for Cardano that has gone largely unnoticed. As ADA holds strong at this crucial support level and begins to climb, investors may find renewed interest in this "dino" coin. The low trading volumes accompanying the price rise could signal significant upside potential if the attention of market participants shifts toward Cardano.
In conclusion, while Cardano's recent price action might be flying under the radar, the formation of this bullish pattern presents an intriguing opportunity for attentive investors.