Despite the recent correction in the Cryptomarkt, Cardano (ADA) maintains an important level of support. Last Monday, the popular Altcoin fell briefly below the $ 0.90 border, which caused investors to cause. The price reached a local soil of $ 0.87, but recovered quickly and climbed back above $ 0.90. According to analysts, this points to strong support from the Bulls, which clears the road for further price recovery.
ADA already showed an impressive recovery in the last 24 hours, with an increase of 8.7% to a current ADA price of $ 0.96. Although the psychological limit of $ 1 is currently acting as a strong resistance, analysts are optimistic that Cardano can break it through in the short term.
Technical analysis: Cardano course in Wedge pattern
Cryptocurrency analyst Carl Moon shared his technical analysis of the ADA/USD price chart on X. He emphasizes that Cardano has been moving within a large Wedge pattern for three months. According to Moon, a bullish outbreak in the coming weeks or months is inevitable.
Cardano price repair towards $ 1.90?
Moon expects that an outbreak can first increase the price of Cardano to $ 1.30, which amounts to an increase of 35%. At this level the currency can experience considerable resistance before a further climb becomes possible. If this resistance is broken, Ada can even rise to $ 1.90, an impressive growth of 98% compared to the current course.
Fundamental factors, such as the introduction of pro-Crypto policy under a re-election of Donald Trump and support for American crypto projects such as Cardano, can further support the rate in the first quarter of 2025.
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Source: https://newsbit.nl/cardano-koers-behoudt-cruciaal-niveau-en-kan-snel-stijgen-naar-190/
