Cardano Poised for 140% Surge: Key Insights from Analysts
The post Cardano Poised for 140% Surge: Key Insights from Analysts appeared on BitcoinEthereumNews.com.
An analyst predicts a potential 140% surge for ADA, based on its current trade setup and bullish signals. Cardano’s demand zones show significant accumulation, hinting at strong support for potential bullish moves. In a post on TradingView, renowned crypto analyst Alan Santana notes Cardano (ADA) has grown shockingly 300% in just 30 days. But a 29-day drop that pushed the token to the 0.5 Fibonacci retracement level—a crucial landmark sometimes connected with reversals in bull markets—followed this increase. Early optimistic movements are now being noted, according to Santana, indicating a possible new bullish impulse and the beginning of the next rising leg. Santana estimates a possible 700% gain with 5x leverage using a trade arrangement comprising about 12% risk and a potential 140% surge. Source: Alan Santana on TradingView Meanwhile, ADA is swapped hands at about $1.09 at the time of writing, a reflection of a 5.38% rise over the last 24 hours and a 23.90% climb over the last 7 days. Data from IntoTheBlock shows considerable buying interest in the price ranges of $0.8366 and $0.6683; hence this comeback fits quite well. As we previously highlighted, about 223,070 wallets bought 1.97 billion ADA inside these zones, and this range is indicated as a major demand zone. Bullish Prospects and Lingering Concerns for Cardano To add to the hope, another well-known analyst, Michaël van de Poppe, has presented his positive assessment of ADA’s price path. Van de Poppe pointed out that past declines following ADA’s great run in 2024 offer a special chance for a bullish reversal entering 2025. This fits the general belief that ADA has constant upward movement potential. The Cardano ecosystem does not, however, present without difficulties. Previously, CNF reported comments made by Cardano’s founder, Charles Hoskinson, on the absence of community representation in choices about the…
Filed under: News - @ January 4, 2025 1:24 pm