Crypto analysts are painting an optimistic picture for Cardano (ADA), suggesting the digital asset could be poised for a major price rally in the coming months. Analyst Trend Rider believes ADA is nearing an “ultimate support test” before potentially embarking on a parabolic upswing, with targets as high as $3 based on past price cycles.
According to Trend Rider’s analysis, Cardano is exhibiting bullish technical signals like a Relative Strength Index (RSI) crossover and retest that have previously foreshadowed rallies. He notes that holding the current support level around $0.25-$0.30 is crucial for ADA to begin its upward trajectory towards $1 initially.
Analyst Alan Santana also struck an upbeat tone, assuring investors that Cardano’s recent bearish stretch won’t last forever. He forecasts ADA will see a “big green” bullish period in late 2024 and through 2025. Santana views the $0.40-$0.45 range as an attractive accumulation zone ahead of the anticipated bull run.
While the path forward may hinge on Bitcoin’s movements, with a bounce above $65,000 projected to uplift altcoins like ADA, the analysts’ projections have buoyed expectations of better days ahead for the Cardano ecosystem and its native token.
