Cardano (ADA) experienced a significant price increase of over 70% from June 22 to July 18, signaling the potential end of its prolonged downtrend that reached a low of $0.50 in June. As of now, ADA has reached a 20-week high of $0.89. Multiple bullish indicators suggest that ADA could increase by 216% to a target price of $2.70. Significant patterns, like the break of a bull flag on the weekly chart and favorable moving averages, indicate continued upward momentum. The Bollinger Bands volatility indicator also suggests the possibility of explosive price movement, similar to past rallies in 2021 and 2024. Despite a near-term resistance, historical trends show that ADA might still rally further before reaching overheated levels. Investors and analysts are encouraged to conduct thorough research as market conditions can be volatile.

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