All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Cardano’s (ADA) chart analysis suggests a potential 140% surge after a bullish wedge correction and higher low formation.
- Technical analysis highlights a bullish outlook for Cardano, with significant momentum expected in the coming weeks.
According to popular crypto analyst Alan Santana, Cardano (ADA) has a promising future. In a thorough post on TradingView, Santana revealed that initially discovered a week ago, Cardano’s recent chart configuration is likely to start its increasing momentum.
He underlined that rather than a bearish trend, the falling wedge shape seen on the chart suggests a modest correction. ADA saw a gain following the correction, but its first resistance level set off a retrace.
Santana observed that ADA kept a firm higher low in spite of this pullback, suggesting a higher possibility of optimistic continuation over a bearish reversal.
Cardano’s ADA: Pivotal Reversal and Potential 140% Surge
Santana viewed December 20 as a pivotal moment for Cardano, interpreting it as a potent reversal that likely signified the end of the corrections. ADA has not hit the December low; hence, even if it has seen a retrace since then, it reflects bullish sentiment.
Technically, Santana clarified that ADA stays positive over $0.76 with notable strength above $0.83. He expects more higher movement in the next days and weeks. Under good circumstances, Santana said, ADA might rise by up to 140%.
Santana did, however, also warn that market conditions are still volatile. Should weekly support levels fall short, lower pricing could follow. Support breakdowns on the hourly or daily charts are less worrisome, he said, since recoveries usually happen quickly in these low timeframes.
Meanwhile, as of writing, ADA is swapped hands at about $0.9203, a 3.49% drop over the last 24 hours and a 13.54% drop over the last 7 days. Based on Santana’s analysis, these losses are related to a search for liquidity, which can set the asset in a strong comeback position.
On the other hand, Cardano’s ecosystem is growing via clever alliances. Especially, CNF reported that Cardano and FC Barcelona have partnered to include blockchain technology with community involvement projects.
With Cardano’s Andamio and NMKR systems, the partnership seeks to reinvent fan interaction with their preferred teams, therefore opening the path for creative fan experiences.
