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Expert Predicts Cardano (ADA) Price Could Hit $1 Soon If This Happens..
By: captainaltcoin|2025/05/16 01:45:05
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Cardano is hanging around a big technical level right now, and it could decide where the price heads next. At the moment, ADA price is trading near $0.77 and pushing up against a resistance zone that’s been tough to crack for a while.Crypto expert Ali pointed out on X that if ADA can break above $0.81, it might set the stage for a move toward $1. His tweet has already sparked interest among traders who’ve been watching Cardano’s downward trend over the past few months.ADA Resistance Zone in FocusCardano has been moving inside a downward parallel channel since late 2024. The chart published by Ali shows ADA price repeatedly bouncing between the lower and upper boundaries of this formation. Price is now testing the top of the channel for the first time since December.This resistance aligns with the 0.236 Fibonacci retracement level, which is calculated from the swing low of approximately $0.32 to the high near $1.30. The convergence of technical factors around $0.81 adds relevance to this level.Source: X/AliVolume remains subdued at current levels, and traders are watching closely for a decisive move. A confirmed breakout would suggest a shift in sentiment after several months of lower highs and lower lows.Cardano Price Key Support and Retracement LevelsOn the negative side, ADA has multiple support levels that have remained strong during its correction. The 0.382 Fibonacci level at $0.6885 has worked as a short-term floor during recent drops. Lower support exists at $0.6165 and $0.5446, which mark the 0.5 and 0.618 retracement areas.If the Cardano price fails to clear $0.81, a retracement toward these support zones remains possible. Historical price action between $0.44 and $0.50 also suggests that buyers have defended this area during earlier selloffs.Mid-Term Cardano Price TargetsIf ADA breaks above $0.81 with strong confirmation, the next logical target remains the psychological $1 level. The broader technical setup also suggests a potential long-term move back to the $1.30 range, which marked the December 2024 high.For now, the $0.81 resistance continues to act as a pivotal barrier. Analysts and traders alike are waiting to see if Cardano price can reclaim higher ground and reverse its ongoing bearish pattern.Read Also: Aptos (APT) Chart Signals Massive Bull Run Is Just Getting StartedFollow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Read our recent crypto market updates, news, and technical analysis here. We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. The post Expert Predicts Cardano (ADA) Price Could Hit $1 Soon If This Happens.. appeared first on CaptainAltcoin.
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