Despite ADA Price Dip, the Altcoin Continues to Hold Broken Out Level, Leaving Open Door for $2.9...

Altcoin ADA continues to hold broken out level showing strength and strong support.

This shows that despite the recent ADA price dip, the altcoin remains bullish.

By holding broken out ADA see an open door to hit bull target $2.9135.

Altseason expectations continue to pump as talk of Bitcoin Dominance falling grows. Presently, several altcoins are showing high possibility via bullish price chart signals and one of the most bullish altcoins this bull cycle is Cardano (ADA). Despite the latest ADA price, the altcoin continues to hold broken out level, leaving the door open for ADA to pump to a bull target of $2.9135

ADA Continues to Hold Broken Out Level

Cardano’s incredible list of completed milestones set since the last bull cycle has earned it the respect and recognition as the only truly decentralized blockchain in the crypto and blockchain space. The community sees Cardano as the best blockchain in Web3 because its latest upgrades have brought speed, functionality, decentralization, and much more. Now, traders and patiently waiting for this success to catch up to the price of ADA, Cardano’s native token.

According to CoinMarketCap analytics, the price of ADA is currently at $0.6666, a price that is over 13% down over the last week. This decline is likely due to the fall of BTC price from $110,000 to $104,000. Looking at the daily chart, ADA price is up by almost 0.50% and boasts a total market cap of $23,563,688,328.31, alongside a 24-hour trading volume of $574,223,263.06.

Last bull cycle, 4 years ago, the price of ADA set its ATH record at $3.10. Analysts expect the altcoin to hit much higher targets this bull cycle, likely in the altseason peak phase that is highly anticipated to arrive. According to many reputed analysts, ADA could surge much higher than its previous ATH price and even hit new ATH target of $6 and $8 this bull cycle. However, for now, analysts are looking at a bull target arrival and not an ATH arrival

ADA Prepares to Hit $2.9135 Target

Charles Hoskinson, the Founder of Cardano, took a slow and steady development approach to deliver a complete and promising blockchain that could withstand the challenges of future blockchain expectations. After 10 long years, this vision has finally come true with the latest Leios Upgrade. This alongside many other Cardano-related ventures, makes ADA a highly bullish altcoin for this bull cycle

As we can see from the post above, Cardano’s ADA continues to hold the broken out price level despite its recent price decline. This is a major bullish sign for the altcoin, showing both support and strength from ADA whales and holders. The analyst concludes that just like the previous breakout, ADA is going through a temporary decline before surging massively in a monumental bullish move towards the $2.9135 target, a price close to its previous ATH record.