Cardano (ADA) Price Prediction: Bullish Reversal Signals Breakout Toward $1.30
- Cardano signals a bullish reversal after forming a key double bottom at major historical support.
- Momentum and volume indicators suggest a potential breakout toward higher resistance zones.
- A confirmed close above resistance could pave the way for a sustained recovery in the coming weeks.
Cardano (ADA) is breaking out from its bearish pattern with fresh momentum. Positioning for potential upside as market sentiment shifts; bears are stepping back as bulls are in control. Key reversal pattern formed after recent rally. The $ADA price is currently sitting at a demand zone, with all confluence indicating a strong demand in the coming days ahead. A successful push could mark a stronger recovery
Currently, the ADA price is $0.7083, up by 9.68% in the last 24 hours with a trading volume of 1.08B and a 24.99B market cap following, but it is significantly up 17.13% over the last week and also showsmomentum signs on the long-term chart.
Source: CoinMarketCap
Cardano Rally Ahead; Bullish Signs Point to $1.30
From the technical point of view, Cardano (ADA) display indicates a possible upward reversal after weeks of consolidation. The asset has just created a double bottom at the $0.50 level, an essential historical support area. The swift movement sent a renewed sense of optimism, and ADA could be gearing up to take further gains if the momentum supports it.
The near-term levels to monitor are obvious. The $0.50$0.58 range is a key area of support; a breakdown below this range would invalidate the bullish setup. Conversely, ADA is now capped at $0.73 to $0.77, a region that expresses the 0.236 Fibonacci extension, a node of high volume, and a long-time structural pivot since early 2022. A daily close above this area would be a significant bullish confirmation, with the potential to revisit 2024s highs.
Source: X
If bulls succeed in pushing above $0.77 with conviction, the next key target is in the $1.10 to $1.30 range. This is a key supply level with notable historical sell pressure, several order clusters at both the daily and weekly time frames, and it coincides with the 0.618 extension of Fibonacci levels and a likely area where both buyers and sellers will fight. At this point, ADA price action is biased to the upside, but a hold of key supports and a break of resistance will show us if this rally has legs.
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Text source: TronWeekly
