CandleFocus Cardano Analyst Predicts Long-term ADA Target at $1.8 and Short-term Target at $0.39
2024-10-25
Author: Content Editor
Market analyst believes that Cardano (ADA) could rally if its major support level holds. The analyst notes that ADA has found support between $0.30 and $0.35, with historical demand zones suggesting potential recovery. If the support holds, a sustained rally could target the next resistance levels between $1.20 and $1.80. However, failure to maintain this support could lead to retesting levels below $0.18. In the short-term, ADA is testing a support zone between $0.33 and $0.34, with the potential for a bullish rebound. Cardano's founder, Charles Hoskinson, has also expressed an ambitious outlook for the network's long-term growth, envisioning it surpassing Ethereum and eventually overtaking Bitcoin.
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