CandleFocus Here is The level Cardano Must Hold to Maintain Uptrend
2024-11-21
Author: Content Editor
A market analyst has provided an update on Cardano (ADA) and highlighted the importance of the $0.72 price level for the cryptocurrency's next bullish upsurge. The analyst notes that Cardano's recent surge to a multi-year high of $0.8466 was spurred by broader bullish momentum and rumors of founder Charles Hoskinson's involvement with the US government on crypto policy. However, Cardano has retraced over 8% from its high and has not mirrored Bitcoin's explosive push to a new all-time high. The analyst expects another leg up for ADA if it can sustain support around the $0.72 level, with higher price targets at $0.994 and $1.363 based on Fibonacci extensions. Another expert speculates that ADA could surge to $6 by 2025. At the time of writing, ADA is trading at $0.781, down less than 1% in the past 24 hours.
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