Cardano Price Targets $0.90 to $0.94 After Bullish Channel Formation
Cardano Price Analysis
Cardano (ADA) is positioned for a potential upward movement following the invalidation of a bearish RSI divergence.
- Analyst Melika Trader predicts ADA could rally to between $0.90 and $0.94.
- Cardano has broken through resistance levels, establishing a new trading range.
- The current consolidation near the lower boundary of a parallel channel indicates a possible bounce.
- Positive signals from the TD Sequential indicator suggest a rebound opportunity.
- Analyst Paul commented on Fibonacci levels, suggesting ADA could reach $1, then potentially $2.2 before correcting to $1.2 and aiming for $3.
Future Potential for Cardano
Analyst Sebastian outlined five reasons ADA might reach $20 in this market cycle:
- Potential for Cardano to become a player in Bitcoin DeFi.
- Involvement of founder Charles Hoskinson with Donald Trump's Crypto Advisory Council.
- Possibility of a Cardano ETF following Grayscale's application.
- Partnerships with Microsoft.
- Collaboration with the US Treasury on blockchain initiatives.
Currently, Cardano trades at approximately $0.8, showing an increase of over 3% in the last 24 hours.
