Cardano’s ADA price faced a decline of over 15% during the recent market crash, but today, it’s recovering along with other top altcoins. The ADA price is now trading around $0.95 after pumping 6% today.
YouTuber Nick Regan shared his analysis with his 12k subscribers about Cardano’s potential price trajectory.
According to Regan’s analysis, ADA is currently testing crucial support levels between $0.78 and $0.81, which he identifies as a potential accumulation zone for long-term investors. While temporary dips below these levels are possible, Regan suggests these movements might be aimed at clearing out short-term traders.
The analysis focuses on Elliott Wave patterns, with ADA currently in Wave 2 of a five-wave structure. Regan expects Wave 3 to drive prices significantly higher, potentially reaching $1.60 or more, with key price movements forming around Fibonacci levels.
Recent market data shows ADA experienced a precise 15.54% decline, with current price action testing the 200-day EMA. Regan describes the current market structure as a three-wave corrective pattern, which typically precedes stronger price movements. He suggests that current market movements might involve deliberate price manipulation to shake out less experienced traders, often referred to as “weak hands,” before any significant upward trend can begin.
Timeline and ADA Price Targets
Regan anticipates significant upward momentum after January 20, with Wave 3 potentially concluding by March. He emphasizes the importance of patience rather than expecting immediate price surges. His long-term projection suggests a potential target of $2.27 by the end of March, based on Elliott Wave analysis and broader market conditions.
Current market indicators show some mixed signals. While the RSI shows no significant divergences, the MACD histogram indicates decreasing buying pressure, suggesting possible near-term fluctuations. Resistance levels between $0.96 and $0.98 could present challenges unless substantial buying pressure emerges.
For risk management, Regan suggests considering stop-loss levels below $0.86 during volatile periods. He notes that the market might experience quick price movements to lower levels around $0.78-$0.81 before any significant upward trend begins.
Read also: Best 3 Altcoins to Turn $1,000 into $100,000: Don’t Miss These Cryptos in 2025
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