The cryptomarkt shows signs of recovery again, and Cardano (ADA) also seems to benefit from this. While many investors are still waiting, an analyst sees clear signals for a new upward trend on TradingView.
Cardano Procedure forecast: Pattern looks like Rally from 2024
Analyst Arman Shaban points to striking patterns in the price chart of Ada. On the 3-day graph, he sees a price structure that is strongly similar to that of the end of 2024. Then the price first dropped back to $ 0.32, and then explodes to $ 1.23 in a few weeks. That increase started exactly from a so -called ‘demand zone’ – an area where buyers are massively active.
According to Shaban, something similar is now happening. ADA recently fell short under 0.51 dollars, but quickly jumped up. Important thresholds are now around $ 0.58 and $ 0.62. If the coin breaks through it, it is aiming for a target of 1.33 dollars. That would mean that from the current level of 0.60 dollars, Ada increases more than 120 percent.
Ada Network activity is increasing
Not only the graph looks positive. Something happens on the network itself. The number of active addresses on Cardano rose by 12 percent last week. Almost 5 percent more new wallets were added. Even the number of ‘sleeping’ wallets – without a balance – increased. This may indicate that old users wake up again.
Sidechain Midnight and AirDrop can support exchange extra
What makes the picture even more interesting is the arrival of Midnight. That is a new Sidechain that runs on Cardano, specifically aimed at privacy. Using advanced techniques such as zero-knowledge proofs can share user sensitive information without this becoming public.
And that is not the case. Midnight also launches with a large airdrop. Investors who own Ada, but also Bitcoin (BTC), Ethereum (ETH) or XRP may have a chance to win free Night tokens. That attracts a lot of attention – and Ada could just give an extra boost.
Source: https://newsbit.nl/analist-cardano-ada-koers-kan-met-120-stijgen-tot-133-dollar/
