CandleFocus Cardano Price Eyes Impulse Move After Bearish RSI Divergence Was Invalidated, Here’s The Target
2025-02-17
Author: Content Editor
Cardano's price is expected to rally to $0.90 to $0.94 following the invalidation of a bearish RSI divergence, as predicted by analyst Melika Trader. The price has recently broken through resistance levels and established a new range, potentially paving the way for the rally. As the Cardano price consolidates near the lower boundary of a parallel channel, a bounce is anticipated. Another crypto analyst, Ali Martinez, also believes ADA is ready to rebound based on the TD Sequential indicator's buy signal on the 4-hour chart. Additionally, analyst Paul suggests that Cardano's price could reach $2.2 on a Wave 3 impulsive move to the upside, correct to $1.2, and ultimately reach $3 on a Wave 5 impulsive move. Furthermore, analyst Sebastian outlined several reasons why Cardano's price could potentially reach $20, including its potential role in Bitcoin DeFi, Charles Hoskinson's involvement in Donald Trump's Crypto Advisory Council, the possibility of a Cardano ETF, potential partnership with Microsoft, and the US Treasury being built on the Cardano blockchain. Currently, Cardano is trading at around $0.8, up over 3% in the last 24 hours.
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