Cardano’s price dropped hard after its recent climb. Crypto analyst Michaël van de Poppe shared on X (formerly Twitter) that ADA’s drop is almost done and could start going back up soon. He pointed out the price fell 40% and expects Cardano to trend higher in the next few years. A detailed analysis of the price movements and chart data sheds light on the underlying trends and critical levels for ADA.
Historical Price Trends and Current Correction
Cardano’s price history reveals a significant downtrend from its 2021 all-time high (ATH), followed by a prolonged period of consolidation within the $0.74–$1.24 range throughout 2022 and early 2023. This accumulation phase transitioned into a bullish breakout in late 2024, where ADA surged above its established range, signifying heightened investor interest.
After reaching a new trading range, approximately $1.24–$2.50, Cardano’s price faced a 40% retracement, a common phenomenon in volatile crypto markets following parabolic rallies. The correction has brought the price closer to previous support levels in the older range, suggesting the possibility of a broader market entry point.
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Key Support Levels and Price Ranges
The analysis of Cardano’s chart underscores the importance of the $0.74–$1.24 range, which acted as a strong consolidation zone during previous market cycles. This range now serves as a potential support zone as the price corrects. The new trading range, spanning $1.24–$2.50, holds significance for long-term bullish momentum.
Van de Poppe also pointed to an optimal entry point for investors in the $0.75–$0.85 range, indicating that wider market corrections could provide favorable opportunities. The $1.24 pivot level remains a crucial area for monitoring upward continuation in the medium term.
Image Source: X/MichaëlvandePoppe Analyst’s Outlook and Future Projections
Van de Poppe’s tweet aligns with technical observations, predicting that ADA’s price correction phase may soon transition into a new upward cycle. The chart annotations highlight the breakout as the first wave of a broader bullish trend, potentially leading to a new ATH by 2025 or 2026.
Indicators such as volume and RSI further validate this outlook. The volume spike accompanying the breakout points to renewed market activity, while RSI levels suggest a healthy normalization phase post-correction. Combined with ADA’s price reclaiming its previous trading range, these factors hint at the potential for long-term asset value growth.
This detailed price analysis of Cardano reflects a cautiously optimistic outlook, supported by technical data and the insights of analysts like Michaël van de Poppe.
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The post Cardano (ADA) Price Is Heading Toward a Strong Upward Run After Correction, Predicts Analyst—Here’s the Outlook appeared first on CaptainAltcoin.
