September 13th• 3 min read
ADA Breaks $0.93 as Cup-Handle Pattern Targets $1
Cardano surges 3.95% to $0.93 as technical analysts confirm cup-and-handle pattern formation, with RSI at 63.66 showing room for further upside momentum toward the $1.00 psychological level.
Key takeaways
🚀 Price Surge: ADA jumps 3.95% to $0.93, breaking above key resistance levels
📊 Technical Strength: RSI at 63.66 provides room for continued upside without overbought conditions
🎯 Pattern Target: Cup-and-handle formation projects 7.5% upside potential to $1.00
⚖️ Risk Management: Stop-losses recommended below $0.78 support for aggressive traders
Deep dive
Cardano's breakout above $0.93 represents a significant technical development, with the cup-and-handle pattern providing clear upside targets toward $1.00.
The RSI reading of 63.66 indicates healthy momentum without reaching overbought territory, while MACD shows strengthening bullish momentum with positive histogram readings.
Trading above all key moving averages, including the 200-day SMA at $0.73, demonstrates the strength of the current uptrend.
Conservative investors may want to wait for confirmation above $0.94 before establishing positions, while aggressive traders can target the pattern's $1.00 objective with appropriate risk management below $0.78 support.
Polaris insights AI-generated
Source:
blockchain.newsDisclaimer: This article may contain content generated or assisted by AI, based on information from public sources. While we aim for accuracy, no content should be taken as financial or trading advice. Always do your own research and consult a professional before making investment decisions. Markets are volatile and involve risk.
