Cardano (ADA) has seen renewed interest as crypto analyst Michaël van de Poppe shared his perception on its performance.
Van de Poppe highlighted key levels for traders, predicting a potential surge to ATHs for the token. This outlook comes with ADA experiencing a resurgence in price and trading volume.
At press time, ADA trades at $1.22. This indicates a rise of 14.80% over the past week. CoinGecko data confirms a robust daily trading volume of $1.44 billion, highlighting the interest in the ecosystem.
What you'll learn 👉
ADA Key Price Levels and Market Dynamics
Van de Poppe identified $0.75 and $1.00 as strategic zones for swing trade entries, emphasizing their importance as support levels in the current price structure.
The crypto has moved from its prior accumulation range of $0.30-$0.75 into a higher bracket, trading between $0.75 and $1.24.
The resistance level at $1.24 is seen as a pivotal hurdle, with a breakout potentially paving the way for mid-term targets around $2.00. ADA’s move back into its old range suggests market confidence in its ability to sustain higher price levels.
Historical Trends and Indicators
Cardano’s price action in the last bull cycle saw its value surge to $3.10 in late 2021, marking its ATH. However, ADA entered a bear market and consolidated for a long period. This period saw its prices stabilizing around $0.30 to $0.75 until late 2024.
The analyst points to a recent uptick in trading volume and an upward trend in the RSI as signs of growing bullish momentum. These indicators support the thesis of a potential upward wave that could lead to new highs in the next market cycle.
Read also: Ripple Whales Accumulate During Price Correction as XRP Price Rebounds
Analyst’s Perspective on Long-Term Potential
Van de Poppe’s optimistic forecast aligns with broader market expectations for Cardano’s ecosystem.
He anticipates that its ongoing developments and growing adoption could drive a return to ATH levels and hit a new one by 2025. His tweet highlights the importance of monitoring key support zones, offering traders insights into potential entry points during price retracements.
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