Cardano Approaching Explosive Rally: Risk Model Signals Potential Upswing

Analysts believe Cardano (ADA) could be poised for a significant price surge as its risk score has fallen to a key bullish signal. A custom-built risk model now places ADA’s current risk at 31, signaling a potential market bottom. This score, which combines technical and historical data, historically preceded ADA’s recent market rebound in late 2023. Historical comparisons reveal that ADA’s lowest risk levels (around 6 to 7) emerged during extended bear markets. 30 is where we start to see bullish shifts in market behavior. ADA is currently showing support near the $0.60 region, a level previously met with resistance earlier this year.