Crypto Analyst Releases Next Potential Targets For Cardano, Is $1 ADA Still Possible?
The post Crypto Analyst Releases Next Potential Targets For Cardano, Is $1 ADA Still Possible? appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Cardano (ADA) appears to be regaining bullish momentum after experiencing a sharp correction from recent highs. According to a recent analysis by a TradingView analyst, ADA may be getting ready for another major rally, with potential price targets pointing toward the $1 mark and beyond. Analyst Sees Cardano Breaking Past The $1 Target On May 1, Arman Shaban released a technical analysis on TradingView, examining the ADA price chart on a 3-day timeframe to decipher its next bullish targets. The analysis shows that Cardano previously surged from a low of $0.33 to a peak of $1.32, representing a more than 300% rally that marked its highest price in three years. At the time, this significant rally had met strong resistance near a bearish Order Block (OB), triggering profit-taking and a sharp pullback to $0.5. Despite the correction, Shaban’s chart reveals that ADA’s structure looks bullish, with its price showing signs of strength after reclaiming the $0.65 zone. The chart analysis also highlights a key liquidity sweep that occurred during the recent correction. Following this, ADA bounced from a well-defined demand zone and bullish Order Block, signaling strong buy-side interest at those levels. Source: Arman Shaban on Tradingview Currently, Cardano is attempting to build a higher low formation, with price action strongly stabilizing above $0.65. This consolidation above $0.65 is seen as a crucial support level, indicating that the market is preparing for a potential bullish continuation. If this level continues to hold, Shaban predicts that the next upside targets lie at $0.75, $0.81, $0.93, and ultimately $1.05. These levels represent previous resistance points and liquidity levels, with each target representing a potential milestone for Cardano’s price recovery. The $1 level holds psychological significance for Cardano, as its…
