Why Cardano (ADA) Price May Spike Soon?

Crypto analyst predicts that ADA price may spike soon

Cardano network is heating up as the whales seem to be taking radical steps like accumulating millions of ADA.

[{"selector":"#anim-bd3f769d-9694-4956-94bf-a1b3a16834df","keyframes":{"transform":["translate3d(-121.14094%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-114a5788-54e3-4d6d-882b-3d2dd8284435","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-afb29396-e028-4228-bda2-91dc8c1888ed","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

As per the crypto analyst, Ali, large transactions are on the rise hinting towards an ADA uptrend.

[{"selector":"#anim-992d26f5-9396-4753-b0f6-27aa29ac115d","keyframes":{"transform":["translate3d(-120.40817%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e87c4b35-dcee-4326-a699-b234ca55ce03","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b9151b3b-0f6a-468d-b0c5-6e61b5883691","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-be575fc5-48e8-40de-8f01-1300cb6b7532","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3fd59562-bed0-476b-9584-b63e6df9cf3d","keyframes":{"transform":["translate3d(0px, 158.94236%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

In a tweet, he also stated that Cardano is poised to confirm a head and shoulders pattern, potentially igniting a 44% breakout that could propel ADA to $0.60.

[{"selector":"#anim-992880f7-b54b-457f-a67c-daa9e9636361","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-887c0765-9cd7-444f-a8f9-99ea3da3bc78","keyframes":{"transform":["translate3d(0px, 137.16476%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-633ad8f9-5f2b-4dc9-955a-acacd1049ae9","keyframes":{"transform":["translate3d(-117.79935%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ac1d9bd7-d7c1-471a-b31a-d6b90c9caa02","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fbf873bd-8ce3-4b62-bedc-b7268cc92ece","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The head and shoulders chart pattern is a price reversal pattern that helps traders spot when a trend has run its course and a reversal may be in progress.

[{"selector":"#anim-fcf3a6a9-9fa1-4d9f-838c-399738cc8f59","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f4455faf-25dd-4f94-a654-b489efd2d35a","keyframes":{"transform":["translate3d(0px, 134.74989%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dd5a8644-134f-4079-830b-dca7506989dc","keyframes":{"transform":["translate3d(-123.80952%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e7a57f0a-388d-498a-a6a5-2dc250708502","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3202745b-71e3-4c36-a0ca-77666ca4a62b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The inverse head and shoulders pattern spotted on the Cardano chart might indicate a reversal of a downtrend.

[{"selector":"#anim-afc4b0e5-38b8-4785-b5e7-f1bcb1e9c10a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cabe2937-d22b-47ce-bdc9-c27a758a95e7","keyframes":{"transform":["translate3d(0px, 138.57549%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ec922711-1fa0-4e91-a7aa-73ff415920b9","keyframes":{"transform":["translate3d(-121%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc87e557-dc46-4218-934f-12c3a97c7b93","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f5574eb0-3998-4c5e-bf93-0151ba6db93e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

ADA has been on the rise since it hit $0.2977 on March 10. This rise is represented by its daily moving averages at $0.352 and $0.36.

[{"selector":"#anim-d7c205cc-f028-404c-96ee-617582663177","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2e6b1409-94b4-4a75-b08a-b7d8e03822bb","keyframes":{"transform":["translate3d(0px, 137.68375%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0db86327-7c2b-4896-8ef8-462079269a75","keyframes":{"transform":["translate3d(-115.09434%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-85a0b862-7b84-4e52-8ed7-e7fb1e07a9e8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9f1a6bae-98d1-4d82-a692-2e99d948d19c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

If the current rally is sustained, ADA price trajectory might spike upwards soon enough.

[{"selector":"#anim-5f6abb17-9f87-4973-b6da-25d8055c2428","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7151fd0-c9c0-48ef-95db-52df435c19a2","keyframes":{"transform":["translate3d(0px, 172.58818%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0cbe5681-4138-4967-992a-ade8276202f6","keyframes":{"transform":["translate3d(-126.73611%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-abedfc18-59ad-4db6-b4c6-1793b60fa262","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-efbce0ee-ed7f-43d4-a910-099e2a784ea0","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-c123bc0a-d493-42dc-b03c-70ac9b1e0825","keyframes":{"transform":["translate3d(225.00002%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-f933a6d4-1f52-407b-8297-d8cb4d6e8a6b","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] Swipe up for more stories...