Cardano’s ADA Needs to Close Above This Level for a +60% Rally as ‘Mega Bullish’ Price Action Emerges

Crypto trader Sssebi (@Av_Sebastian) posted a bullish prediction for Cardano’s ADA token earlier today. He believes that if ADA can close the week trading above $0.75, it could soon see prices over $1.20, representing a potential 60% price surge from current levels.

Sssebi’s Optimistic Target “If $ADA can close the week above $0.75, we are probably going to see $1.2 really really soon,” tweeted Sssebi. “There is not much resistance for this target to be met.”

He went on to point out that ADA recently broke above its 200-week moving average (200W MA), which he described as “mega mega bullish.” Sssebi concluded that “Cardano is just getting started!

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The 200W MA is often viewed as an important long-term indicator of a cryptocurrency’s trend. Breaking above it after an extended period trading below it is generally seen as a convincing signal that sentiment is turning significantly bullish.

If ADA closes materially above $0.75 over the weekend as Sssebi suggests it could, additional traders may point to it as confirmation of gathering upside momentum. That could spark increased buying interest and propel prices towards his $1.20 target. Of course, crypto markets remain extremely volatile, so such predictions should be taken with caution. Still, Sssebi’s enthusiastic tweet summarized a potentially exciting development for Cardano investors.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.