Crypto analysts have released Cardano’s next potential target, is it still possible for ADA?
Cardano (ADA) seems to be Recover bullish momentum After a sharp correction of the recent high. According to the latest analysis by TradingView analysts, the ADA may be preparing for another major rally and has potential Price target points to $1 mark And then.
Analysts see Cardano surpassing $1 target
May 1, Arman Shaban issued Technical analysis on transactions, check ADA price charts over a 3-day time frame to decipher them Next bullish target. Analysis shows that Cardano previously rose from below $0.33 to a peak of $1.32, representing a gathering that marks over 300% of its mark The highest price in three years.
At that time, this major rally encountered strong resistance near bearish Order Block (OB)triggering profit, sharply pullback to $0.5. Despite the corrections taken, Shaban’s chart reveals Ada’s structure looks goodits price shows signs of strength after recovering the $0.65 zone.
The graphical analysis also highlights the critical liquidity scans that occurred during the recent correction period. Ada has since bounced from well-defined demand zones and bullish order blocks, marking a strong buying interest at these levels.
Currently, Cardano is trying to build higher lower strata, with the stable and stable price action above $0.65. This merger above $0.65 is considered a critical level of support, indicating that the market is working for Potential optimism continues.
If this level continues, Shaban predicts Next upward target The lie is $0.75, $0.81, $0.93, and ends up being $1.05. These levels represent previous resistance points and liquidity levels, and each target represents potential milestones Cardano price recovery.
The $1 level has psychological significance for Cardano, as its price has exceeded the threshold for months. Successful moves beyond the $0.81 goal may open the door to retesting this level. Still, the focus remains on the $0.65 and $0.75 range, as a strong close above the area can confirm that Ada is ready to restart and continue to push upwards.
Whales accumulate ADA at low prices
Cardano is currently trading at $0.69 after a 4.7% drop last week. In this Price dropsWhale has been using the little guy to buy ADA tokens, and seems to take advantage of the low price, hoping to reverse in the future.
Crypto analyst Ali Martinez shared On X (formerly Twitter) Cardano Whale In April alone, more than 410 million ADA tokens were accumulated. At the current market price of cryptocurrencies, this large amount of tokens buys an impressive $276,000,000.
It is worth noting that this massive increase ADA accumulation The long-term prospects of large investors are firm beliefs of large investors. Although Cardano continues Trade side Technical indicators due to market downward trend and continuous volatility suggestion Emotion shifts to the “greed” area, indicating that investor optimism is rising.
Featured images from Adobe Stock, charts from TradingView.com
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