Cardano (ADA) is under the spotlight as analysts anticipate a significant price rally after a recent cooling-off period. Despite being 67% below its all-time high of $3.09, analysts see a robust recovery path for ADA.
Trend Rider, a notable analyst, suggests ADA is poised for a breakout as it consolidates above key moving averages, possibly reaching $3 if it breaks the $1.25 resistance level. Another optimistic analyst, Ali Martinez, believes ADA's recent 43% correction hints at a new upward move, targeting $6 in a few weeks.
AV Sebastian joins this bullish sentiment, identifying a triangular pattern and "very bullish market structure" on ADA's daily chart. Analysts highlight a double bottom formation and support zones around $1.3886 and $0.824 to watch closely. ADA currently trades at $1.14, showing a slight daily uptick.
