Cardano’s Risk Model Near Historic Lows: Is ADA Gearing Up for a Major Rally
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- Custom risk model shows Cardano score at 31, similar to previous major bottoming patterns.
- Historically, the current setup mirrors the 2023 right shoulder formation before the bull run.
- $0.60 support level and descending trendline breakout could trigger a move toward $1.51.
Cardano (ADA) may be on the verge of a major comeback, according to emerging data from a custom risk model developed by crypto analysts. The model, which combines multiple data points into a single risk score, currently places ADA at 31, which is strikingly similar to previous market bottoms that preceded substantial rallies.
“Look at in green. We have our custom data. It’s a confluence of a lot of data, but it’s bringing into play a risk score,” explains analyst Dan Gambardello. “Around 31 right now… If you look at this when we bottomed out here back here… we saw ADA right around a risk of like 35 and that was kind of the bottoming out formation of that right shoulder,” Gambardello added.
The post Cardano’s Risk Model Near Historic Lows: Is ADA Gearing Up for a Major Rally appeared first on Coin Edition.
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