The post Cardano Price Could See 25% Move, Here’s Why appeared on BitcoinEthereumNews.com.

Cardano price showed a clear pattern of consolidation within a tightening range, suggesting potential breakout. ADA is currently holding at $0.7658, with a resistance around $0.7800 and support established along the ascending trendline starting from lower levels around $0.6000. If Cardano breaks through the resistance at $0.7800, it could trigger a bullish move. A 25% increase from the breakout point to targets of about $1.00. Immediate resistance at $0.7800; a break above could confirm bullish momentum towards $0.9750. Conversely, failing to sustain above the current support trendline might result in a price dip. A breakdown below this level could see Cardano retesting lower supports near $0.7200 or even $0.6800. – Advertisement – ADA/USDT hourly chart | Source: Ali/X If support at the trendline fails, the next substantial support is around $0.7200, with further dips possibly reaching $0.6800. The consolidation suggested traders were in a wait-and-see mode, which often precedes significant volatility. Increased trading volume could be a cue for the likely direction of the breakout. For a bullish scenario to sustain, maintaining above the ascending trendline is crucial. A slide below this line could shift market sentiment to bearish, prompting a reevaluation of support levels. Cardano Price: Crowd vs Smart Money Sentiment Analysis of the sentiment gauges for ADA showed contrasting views where the crowd sentiment stood at -0.27 indicating bearishness, while smart money sentiment at +0.52, suggested bullishness. If smart money’s bullish sentiment drives the market, Cardano price could see an uptrend potentially testing higher resistance levels. Historically, smart money sentiment often correlates with subsequent price increases as these investors are perceived to have access to comprehensive data and market insights. ADA market sentiment | Source: Trading View Conversely, if the crowd’s bearish perspective dominates, it could lead to a price pullback or stabilization at lower levels. The crowd’s…

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Filed under: News - @ February 24, 2025 12:55 am