At the beginning of March, Cardano (ADA) went through an explosive rise. After Donald Trump suggested that the digital currency would be possible in a national reserve, the ADA race rose from $ 0.66 to a local peak of $ 1.14.
In the meantime, sentiment has cooled in the market and the race has largely fallen. Yet, according to analyst Ritika Gupta, there are strong indications in historical data that indicate a new, sharp rise.
Repetition of a course pattern from 2024
The current market structure shows striking similarities with the price trend in the third quarter of 2024, when Cardano broke out to a peak of $ 1.32. In recent months, Ada has found support in the zone between $ 0.59 and $ 0.70, after which the rate recovered. This points to solid purchasing pressure at those levels – a clear sign of persistent trust among investors.
According to Gupta, a breakthrough above the resistance could free up the road for a new rally around $ 0.73. Especially if Ada rises in value compared to Bitcoin (BTC), she considers a price rise towards $ 2.50 quite possible. That would mean an increase of around 278%.
RSI points to cooling
Yet there are also signals that indicate a possible break in the upward momentum. The Relative Strength Index (RSI) – an indicator that measures or has been bought or sold over an Activum – is currently showing a downward trend. That suggests that enthusiasm among investors has decreased slightly.
A temporary dip towards $ 0.60 is therefore obvious. However, this can be a healthy moment of consolidation before Ada is preparing for a new outbreak.
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Source: https://newsbit.nl/kan-cardano-ada-naar-2-50-analist-wijst-op-historisch-patroon/
