Cardano’s ADA has shown impressive performance, up by 35 percent in the last seven days. The altcoin is currently trading near the $0.77 level and analysts predict that ADA will soon hit the $1 mark.
According to analyst Josh of Crypto World, Cardano is facing resistance at the 50% Fibonacci retracement level, located between $0.82 and $0.83 on the weekly chart. This is an important level to watch, as it may limit short-term price movement. However, a confirmed breakout above $0.83, supported by strong candle closes, could push the price toward higher targets.
Once Cardano breaks above $0.83, the next major target lies between $1.12 and $1.23, marked by the golden pocket zone. This range is a key price area for further upward movement. The larger trend remains bullish, with Cardano forming higher highs and higher lows, hinting at an ongoing momentum.
“With Cardano’s recent surge and a potential breakout on the horizon, now’s the perfect time to read the Cardano price prediction and stay ahead of the curve!
ADA is forming a bullish continuation pattern known as a symmetrical or horizontal triangle. This pattern suggests the price could continue rising after breaking out. The price target for this pattern is approximately $0.85, and a larger breakout could see a 30% to 43% gain, with a potential move to $1.18.
However, a confirmed breakout above $0.83 would be necessary to move towards these higher price targets, and any failure to break this resistance could lead to a short-term pullback.
Looking at the Cardano/Bitcoin (ADA/BTC) chart, Cardano has recently outperformed Bitcoin, showing strong bullish momentum. The ADA/BTC chart is bouncing off a key support level, which has historically been followed by significant bullish moves. The last time this occurred was in late 2019 and early 2021, leading to major rallies.
A bullish divergence is forming on the ADA/BTC chart, signaling the potential end of a long bear market against Bitcoin. To confirm that Cardano is indeed entering a new bull market, we need to see either a higher low or higher high on the chart.
Cardano hitting $1 depends on broader market trends, adoption growth, and investor sentiment. It’s possible, but uncertain amid current volatility.
According to our Cardano price prediction, the altcoin’s price could hit a maximum of $2.42 by the end of 2025.
Even the most bullish of Cardano supporters acknowledge that Cardano will only potentially surpass Ethereum within 8 to 10 years.
The past week turned out to be one of the most profitable weeks for the…
With the crypto market showing signs of stability, memecoins and emerging altcoins have been stealing…
In today’s rapidly shifting crypto landscape, meme coins are no longer just jokes; they are…
Amber International, one of the top names in crypto financial services, has just launched a…
BlackRock has filed to allow in-kind redemptions for its Ethereum Trust, a move that would…
Bitcoin has surged past $100,000, driven by a wave of positive news and growing market…
