{"id":327779,"date":"2021-08-20T03:24:17","date_gmt":"2021-08-20T00:24:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bullish-cup-and-handle-pattern-sets-cardano-ada-price-up-for-a-new-ath\/"},"modified":"2021-08-20T03:24:17","modified_gmt":"2021-08-20T00:24:17","slug":"bullish-cup-and-handle-pattern-sets-cardano-ada-price-up-for-a-new-ath","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bullish-cup-and-handle-pattern-sets-cardano-ada-price-up-for-a-new-ath\/","title":{"rendered":"# Bullish cup and handle pattern sets Cardano (ADA) price up for a new ATH"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e651bf355\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e651bf355\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bullish-cup-and-handle-pattern-sets-cardano-ada-price-up-for-a-new-ath\/#A_bullish_upturn_in_the_50MA\" >A bullish upturn in the 50MA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bullish-cup-and-handle-pattern-sets-cardano-ada-price-up-for-a-new-ath\/#Flipping_230_to_support_is_key\" >Flipping $2.30 to support is key<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bullish-cup-and-handle-pattern-sets-cardano-ada-price-up-for-a-new-ath\/#A_cup_and_handle_breakout_will_confirm_the_ATH\" >A cup and handle breakout will confirm the ATH<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bullish cup and handle pattern sets Cardano (ADA) price up for a new ATH <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Smart contracts have been a revolutionary force in the blockchain industry because they have enabled the creation of decentralized finance protocols, nonfungible tokens and a new form of carrying out transactions without the need of a middleman.\u00a0<\/p>\n<p>Cardano (ADA) is one of the many projects that has been gaining momentum throughout 2021 and now that the project&#8217;s long-awaited smart contract capabilities are on the verge of becoming reality, the token is on the precipice of setting a new all-time high.<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ADAUSDT\/\">TradingView<\/a> shows that after bottoming at a low of $1.02 on July 20, the price of ADA has surged 139% to a multi-week high at $2.45. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/8a05a2c2-1789-469d-9182-f4e306720c05.png\"><figcaption style=\"text-align: center;\"><em>ADA\/USDT 1-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ADAUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Here\u2019s a look at what some analysts and traders are saying about the recent price action for ADA and what token holders may want to keep an eye on in the short term.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_bullish_upturn_in_the_50MA\"><\/span>A bullish upturn in the 50MA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The rapidly rising price of ADA has been hard for most traders to ignore, especially since multiple technical indicators have now flipped bullish. <\/p>\n<p>One such indicator is the 50-day moving average (50MA), which is now pointed up after being on a downslope for roughly 2 months as highlighted in the following chart <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pharmlords\/status\/1428425587790467072\">posted<\/a> by pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user Pharmlord. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/6dfd6f9a-ca81-4704-912d-c0a7afd327bf.jpg\"><figcaption style=\"text-align: center;\"><em>ADA\/USD 1-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/fidzcrypto\/status\/1428371414231314434\/photo\/1\"><em>Twitter<\/em><\/a><\/figcaption><\/figure>\n<p>As seen in the chart above, once crossing above the 50-MA, ADA price doubled and is now on the verge of hitting a new all-time high at $2.46.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Flipping_230_to_support_is_key\"><\/span>Flipping $2.30 to support is key<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Insight into the important levels that ADA bulls need to keep an eye on was provided by Rekt Capital, a pseudonymous Twitter analyst who pinpointed the importance of the $2.30 level.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ADA<\/a> dip gets bought aggressively and the rally continues<\/p>\n<p>ADA is getting incredibly close to revisiting its final major resistance of $2.30 (black)<\/p>\n<p>Also very close to revisiting All Time Highs<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ADA?src=hash&amp;ref_src=twsrc%5Etfw\">#ADA<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\">#Cardano<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FX0FS7Aekt\">https:\/\/t.co\/FX0FS7Aekt<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/jDiXaLqcfF\">pic.twitter.com\/jDiXaLqcfF<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1428418496170532866?ref_src=twsrc%5Etfw\">August 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>ADA has already managed to convincingly surpass a lower resistance zone shown in red on the chart above and is now it is attempting to break the May 16 all-time high at $2.46.<\/p>\n<p>According to Rekt Capital:\u00a0<\/p>\n<blockquote><p>\u201cThe only major resistance left before a new All-Time Highs is the black level ahead (~$2.30).\u201d <\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>ADA hits $2 for the first time since May ahead of Cardano smart contract announcement<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_cup_and_handle_breakout_will_confirm_the_ATH\"><\/span>A cup and handle breakout will confirm the ATH<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Twitter user &#8216;Fidzcrypto&#8217;, ADA is showing a distinct cup and handle formation on the daily timeframe.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/44e9669e-a8fb-4786-b115-2447a4431a58.jpg\"><figcaption style=\"text-align: center;\"><em>ADA\/USD 1-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/fidzcrypto\/status\/1428371414231314434\/photo\/1\"><em>Twitter<\/em><\/a><\/figcaption><\/figure>\n<p>Investopedia cites the cup and handle pattern as a technical indicator that resembles a cup with a handle, where the cup is in the shape of a &#8220;u&#8221; and the handle has a slight downward drift.\u201d<\/p>\n<p>The cup portion of the pattern can be seen on the chart between May 14 and Aug. 16, while the handle is seen in the price dip and recovery from Aug. 16 &#8211; Aug. 18. <\/p>\n<p>According to Investopedia:<\/p>\n<blockquote><p>\u201cThe cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. The pattern&#8217;s formation may be as short as seven weeks or as long as 65 weeks.\u201d<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bullish-cup-and-handle-pattern-sets-cardano-ada-price-up-for-a-new-ath\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bullish cup and handle pattern sets Cardano (ADA) price up for a new ATH &#8221; Smart contracts have been a revolutionary force in the blockchain industry because they have enabled the creation of decentralized finance protocols, nonfungible tokens and a new form of carrying out transactions without the need of a middleman.\u00a0 Cardano (ADA)&#8230;<\/p>\n","protected":false},"author":1,"featured_media":327780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvNDlmOWY3NTYtZWViYy00OTAyLTgzYzctOTEyMWM1OTY0NzMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,75378,74863,74868,75434,73785],"class_list":["post-327779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cardano","tag-cryptocurrencies","tag-defi","tag-smart-contracts","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/327779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=327779"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/327779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/327780"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=327779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=327779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=327779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}