Crypto Analyst Expects Cardano Price To Soar 400%

Pseudonymous crypto expert Melika Trader predicted a long-term gain for Cardano (ADA) on TradingView, with a price objective of $1.8. Melika provides short- and long-term ADA price predictions using chart patterns and key price levels.

Long-Term Cardano Price Forecast

Melika finds high ADA support between $0.30 and $0.35. An engulfing candle pattern and established supply and demand (S&D) zones have indicated considerable purchasing activity in this area. Cardano's market support has been strong with this base development.

Melika predicts long-term resistance between $1.20 and $1.80. Based on past price peaks, this target region represents a major obstacle for potential price movement.

“The $1.20-$1.80 long-term target, which matches previous highs, is the next major resistance. Melika thinks that ADA might rise toward the long-term objective if present support holds, particularly if buyers restore confidence.

ADA failing to retain $0.30 support will be negative, she warns investors. Holders risk a drop below $0.18 if this barrier is breached. “A failure to hold support around $0.30 could see the price retesting to below $0.18,” worries Melika.

ADA is trading between $0.33 and $0.34, a solid support zone with a lower trendline that emphasizes its relevance. “ADA could target $0.38–$0.39 resistance if it bounces from this support zone. The encompassed region may indicate a turnaround, says the crypto researcher.

This $0.39 resistance zone, where sellers have dominated, is crucial for ADA's short-term price movement. Breaking this barrier might confirm the bullish recovery scenario. “The $0.39 zone is a significant resistance where sellers previously controlled the market, making it a critical area to watch for any breakout,” Melika says.

Alternatively, ADA might fall below the wider long-term support of $0.30, underlining Melika's bearish concerns.

#Cardano #Ada $ADA