$ADA
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The cryptocurrency market is witnessing a potential turnaround for Cardano (ADA), as signaled by a recent technical analysis. According to Master Ananda, a renowned crypto analyst on TradingView, Cardano is on the brink of a substantial bullish wave that could see its value increase by 300%. This projection is founded on the identification of a Falling Wedge pattern on ADA’s monthly chart, a classical chart pattern that suggests a bullish reversal is imminent. Since January 2025, this pattern has been developing through a series of lower highs and lower lows, indicating a tightening price action. Now, with ADA breaking out from this pattern, it could signify the end of a prolonged correction phase and the start of a monumental price surge, potentially reaching as high $2.65 in the near future.
Adding to the bullish sentiment, ADA recently marked a higher low on April 7, 2025, finding strong support in the $0.57-$0.60 range. This move was interpreted by Master Ananda as a strong indication that Cardano has bottomed out, highlighting a significant buying interest from a previous long lower wick observed in early February. The current positioning of ADA and its breakout above the Falling Wedge pattern aligns perfectly with a 300% price increase forecast, taking ADA to a $2.65 target per the 2.618 Fibonacci Extension level explored in the analysis.
The journey to $2.65 is anticipated to involve surpassing multiple key Fibonacci Extension levels acting as intermediate price targets. Initially targeting the 0.382 Fibonacci level at $0.81, ADA’s price trajectory is poised to climb higher, surpassing sequential Fibonacci levels at $0.91, $1.01, and $1.14 respectively. Accelerating momentum is expected to propel ADA towards a $1.3 mark before making a significant leap to the 1.618 Fibonacci level at $1.83, ultimately setting the stage for reaching the $2.65 target.
Master Ananda stipulates that ADA’s current trend is merely the inception of a mid-term bullish impulse set to extend into Q3 2025. Though short-term fluctuations are anticipated, the overarching structure offered by the Falling Wedge suggests that Cardano is stepping into a phase of sustained growth. This long-term bullish outlook contends that the anticipated rally to $2.65 isn’t the peak but part of a broader ascending trend. The analysis underlines the importance of ADA holding above the 0.236 Fibonacci support at $0.69 for maintaining long positions. This encapsulates a bullish forecast rooted in solid technical groundwork, reinforcing ADA’s potential for significant value appreciation in the forthcoming months.
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