Why Cardano (ADA) might achieve $1.50 in its next big move
ADA is at its highest level since March 2024, up about 120% from its lowest point this year. Some experts believe Cardano is ready for its next big rise, targeting $1.50.
The token's bullish momentum is supported by a one-day Golden Cross, a technical indicator that happens when the 50-day moving average crosses over the 200-day.
This pattern usually precedes significant rallies. ADA broke through resistance and moved into the 2.0 Fibonacci extension after its previous 1D Golden Cross in November 2023.
Positive momentum in the Relative Strength Index (RSI) supports positive optimism. According to TradingShot, ADA's RSI is following a similar fractal pattern to prior bullish cycles, signaling further gains until overbought.
This suggests that ADA may be ready for its next big move if it breaks $0.8 resistance.
If a breakthrough occurs, experts expect a surge to $1.40, the 2.0 Fibonacci extension and optimistic investors' next big goal.
Extra bullish considerations
Trend Rider said that ADA broke major resistance at $0.7174 by closing above the Parabolic Line.
The convergence of these optimistic factors may boost purchasing pressure, especially with news of a possible Cardano partnership with President-elect Trump.
Open interest in the futures market for ADA has above $550 million for the first time since March, hitting $582.9 million, according to CoinGlass.
This rise shows bullish interest as exchange net flows raise purchasing pressure.
Cardano cost analysis
ADA is now trading at $0.7283, up 30% in a week. Additionally, the token has grown 103% in the last month.
Cardano's recent advance, supported by strong technical indications, a favorable futures market, and investor confidence, suggests a $1.40 breakout
To assess the durability of this bullish trend, traders should be cautious and watch macroeconomic and RSI dynamics.
Strong support and expanding ecosystem interest suggest ADA might reach $6 by 2025, a record high.
