Highly followed market analyst "CobraVanguard" predicts that Cardano's native token ADA is ready for a significant rebound following a recent drop in price. The analyst believes that the $0.85 to $0.90 level will offer good support based on past trends and predicts a price bounce with a target around $1. With the asset already paring some losses and trading near $0.93, there is potential for a further 7.5% upside according to CobraVanguard's analysis. Additionally, Cardano may receive a boost from a leveraged exchange-traded fund launched by Tuttle Capital for crypto assets including ADA. Veteran trader Peter Brandt has also suggested that Cardano is ready for a "grand bull market" after breaking out from a multi-year double-bottom formation. However, the asset will need to weather economic releases such as interest rate decisions from the U.S. and European Area in the short term.



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