Cardano might just be the next crypto to explode, suggest technical indicators and macro shifts.

Bullish patterns have flooded the charts, jolting traders awake. The slowdown in the US job market, on the other hand, hints at an upcoming Fed rate cut. An important SEC ETF decision further adds to the speculation.

Together, they could push $ADA toward an explosive month with a massive upside.

Cardano Has Multiple Bullish Catalysts Coming Together

Cardano ($ADA) is currently selling for just $0.84, recording a 5.5% uptick on the monthly chart. For context, Bitcoin slid 4.5% in the same duration.

But the next few weeks could pump Cardano higher up the charts, making it one of the best crypto to watch this season.

Why? First, $ADA’s bullish flag and inverse head-and-shoulders pattern are both flashing a brilliant green. They are often seen as reliable reversal setups.

Second, $ADA is holding firmly above its 100-day EMA, increasing confidence in a rebound, as the pattern has historically worked out well for Cardano.

Third, $ADA’s current price is sitting near a key Murrey Math support level, which gives the asset a higher chance of taking off, by up to 30%.

Analysts have also been pointing out more indicators in favor of an $ADA rally:

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Author: Ben Wallis