Cardano breaks due to crucial level – Analyst sees price target 3 dollars

Cardano (Ada) is not really able to shine so far. With a course around $ 0.79, the currency is still far below its peak of $ 3.09 from 2021. Yet analyst Cryptogen Athos sees strong, bullish signals in the graphs, he recently wrote on X.

Ada Koers breaks through crucial resistance

The week started strong for Cardano (Ada). Analyst Cryptogen Athos points out that the course broke briefly due to the crucial resistance of 0.81 dollars. That level is important because it has been acting as a solid psychological barrier since the end of 2023.

That barrier arose during a long downward trend between December 2023 and September 2024. Only in September last year did Ada break through it, after which the race rose to $ 1.32 in November. The rally, however, stopped when Donald Trump unleashed a trade war with China. The input levies caused unrest, so that Ada fell to a local low of approximately $ 0.55.

Now that the price is again above $ 0.81, cryptogen-athos sees opportunities for a new advance. He points to ‘thin liquidity’ in the market- there are relatively few merchants and sales orders, so that large transactions can move the price quickly. Combined with the optimistic sentiment, according to him, this can be the ideal breeding ground for a solid increase.

He calls a target of 3 dollars realistic. That is just below the old All Time High and would mean an increase of around 291 percent compared to the current level.

Cardano invests millions

In the meantime, the network is still being worked hard. The community recently approved a new investment of no less than 96 million ADA. It is a milestone, because for the first time the community voted for such a large -scale and direct financing of the core development of the network.

The funds will be used to make the platform faster and cheaper. With this, the network must be prepared for applications that are needed in the real world.