Cardano Bulls Target $10 as Analysts Identify Key Resistance Levels
Cardano (ADA) has experienced significant volatility recently, influenced by US President Trump's announcement of a US Strategic Crypto Reserve that includes ADA. This led to an 80% price surge within one day, but it quickly declined by 35% due to negative macroeconomic sentiment and global trade war concerns.
Key points include:
- Analyst Ali Martinez suggests ADA could reach $10 if it reclaims key technical levels.
- Current price action shows ADA trading around $0.80, below the critical $1 level.
- A stable support above $0.80 and a break above $1.20 are crucial for potential bullish movement.
- Traders remain cautious amid broader market uncertainties.
The next few days will be pivotal for ADA's price direction, with potential for recovery or further downside risk based on market stabilization.
ADA needs to maintain support at $0.80 while breaking through resistance at $1.20 for a significant rally, otherwise, it risks further consolidation and downside pressure.
