Cardano price is showing signs of repeating its historical rally patterns, which have delivered gains of up to 300% in previous cycles.
With the current price consolidating near $0.70, analysts believe ADA could be gearing up for another significant move, targeting $2.50 in the coming months.
Technical indicators and key support levels point toward a potential recovery as bullish momentum builds.
Current Cardano Price Analysis: Consolidation Near Support Levels
Cardano (ADA) price is currently trading at $0.6926, showing minor consolidation as it tests critical support near $0.68-$0.70.
The price has been trading sideways in the recent trading sessions and has formed a falling wedge pattern in the 4-hour chart.
If the price forms a breakout over the wedge’s inclined upper boundary around $0.75, the bullish pattern would be activated, with targets at $0.80.
On the downside, a breakdown below $0.68 will bring a series of immediate support levels at $0.60-$0.
The OI for Cardano (ADA) at the moment stands at 3278 million, which shows that there is steady trading going on within the derivatives segment.
This figure shows the active sentiment of the traders to ADA in terms of expectation of bigger price swings in future.
Historical Patterns Suggest a 300% Rally Could Be Imminent
Market analyst Av_Sebastian points to Cardano’s pattern of a short consolidation followed by an even faster upsurge of 200-300%.
For instance, in November-December 2024, ADA had increased by more than 300%, and such price trends showed that ADA could record rapid appreciation within a short period.
The current market structure is similar to the previous ones before such rallies.
For this reason, the source assumes that ADA could repeat the described trajectory in February-March 2025 and climb to $2.50.
This forecast is consistent with technical analysis since they have sustained the support levels in the past.
Technical Indicators Show Momentum Building
The Relative Strength Index for ADA stands at 38.85 near to the oversold region at the moment.
This indicates that the bearish trends are being nullified, thus making way for the bulls to reign in the market.
MACD is indicating a rising Bullish signal. It has shifted to the positive side while the signal line is approaching this level.
Analysts Predict Long-Term Growth for Cardano Price
To support the bullish outlook analyst best_analysts targets the situation near a key support level for Cardano (ADA) price at the level of 200 moving average (MA200).
There is a suggestion from the analyst to buy at around $0.70 as there is a likelihood that it is a key area of support and thus a bounce could occur there.
In the short-term it targets $0.7026 and $1.00 which may go even further if the bulls create more buying pressure.
Furthermore, long-term, Cardano price has seen favorable predictions from crypto analyst Dan Gambardello with a potential market Cap of $ 500 billion.
This is a very aggressive target which implies that the price might be around $14 in the future, which is an indication of confidence in the future growth of ADA in the market.
The post Cardano Price Eyes $2.50 After Historical 300% Surge Patterns appeared first on The Coin Republic.
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