As technical analysts identify a crucial pattern on the charts, Cardano’s ADA exhibits indications of a bullish trend. With targets ranging from $1.15 to $10, analysts Sssebi and Dan Gambardello have expressed their opinions on the price movement of ADA.
The token has broken through the psychological $1 barrier, marking a notable shift in market sentiment. However, at press time, ADA has dipped slightly below this level and trades at $0.986726.
What you'll learn 👉
ADA Analysis Points to Short-term Targets
The ADA chart by Ssebi displays a forming inverse head and shoulders pattern, according to analyst Sssebi.
The pattern consists of a left shoulder at $0.95, a head at $0.90, and a developing right shoulder near $1.00. A breakout above the neckline suggests a potential move toward $1.10-$1.15.
The price action has broken through a key downward trendline, now acting as support around the $1.00 mark.
Volume data supports this bullish momentum, with increased trading activity during the recent breakout phase. The RSI indicator sits at 57, suggesting room for upward movement before reaching overbought conditions.
Market Sentiment Shifts as ADA Consolidates Above $1
Dan Gambardello notes the market’s previous skepticism about ADA returning to the $1 level during the bear market.
The current consolidation phase above this threshold marks a change in market dynamics. Traders who waited to sell at $1 now face a decision as the price holds steady.
The redistribution phase at current levels could set the foundation for future price movement. Support levels have formed at $1.00, with additional demand zones at $0.95 and $0.90.
These levels align with the inverse head and shoulders pattern structure, providing technical backing for potential upward momentum.
Read also: Crypto Veteran Reveals Real Bitcoin (BTC) Price Prediction for 2025
Long-term Price Projections
While Sssebi’s short-term technical analysis suggests targets around $1.15, some analysts eye higher objectives. Gambardello’s analysis suggests potential moves toward $5 and $10 after the current consolidation phase completes.
These projections would require sustained buying pressure and broader market support to materialize. Support at $1.00 remains key for maintaining bullish momentum.
The price must hold above this level to validate the inverse head and shoulders pattern and enable moves toward higher targets. The market continues to watch volume and momentum indicators for confirmation of the bullish trend.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
