{"id":649825,"date":"2024-10-25T23:30:57","date_gmt":"2024-10-25T23:30:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=649825"},"modified":"2024-10-25T11:31:54","modified_gmt":"2024-10-25T11:31:54","slug":"cardano-price-skyrocket-430-crypto-analyst","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-price-skyrocket-430-crypto-analyst\/","title":{"rendered":"Cardano Price Set To Skyrocket By 430%, Crypto Analyst Predicts"},"content":{"rendered":"

In an analysis published<\/a> on TradingView, pseudonymous crypto analyst Melika Trader has provided a technical forecast for Cardano (ADA), highlighting a long-term upside scenario with a price target of $1.8. Using chart patterns and key price levels, Melika offers both short and long-term perspectives on ADA’s price movement.<\/p>\n

Long-Term Cardano Price Outlook<\/h2>\n

Melika identifies a significant support zone for ADA between $0.30 and $0.35. This range has historically shown strong buying interest, characterized by an engulfing candle pattern and previously established supply and demand (S&D) zones. This base formation suggests a robust floor where Cardano has consistently garnered market support.<\/p>\n

The analyst points out the potential for a bullish reversal, noting that ADA\u2019s price action appears to be forming a bottom<\/a> within this support zone. \u201cThe price seems to form a bottom after engulfing the support region, hinting at a potential bullish reversal,\u201d Melika states.<\/p>\n

\"Cardano
Cardano price analysis, 1-week chart | Source: TradingView.com<\/figcaption><\/figure>\n

Looking ahead, Melika sets a long-term resistance target between $1.20 and $1.80. This target area is not arbitrary but is based on previous price peaks, making it a significant hurdle for future price action. Should ADA maintain its support base, the path to these higher resistance levels may be realized as buyer confidence rejuvenates, setting the stage for a potential bull run<\/a>.<\/p>\n

Related Reading: Cardano\u2019s Pullback Short-Lived, Fresh Rally Underway For ADA?<\/a><\/div>\n

\u201cThe next major resistance is in the $1.20-$1.80 zone, marked as a long-term target, which aligns with previous highs. If the current support holds, ADA could be positioned for a sustained rally toward the long-term target, especially as buyers regain confidence,\u201d Melika writes.<\/p>\n

However, she also cautions investors about a bearish scenario where ADA fails to maintain the $0.30 support level. A breach below this threshold could lead to a decline to levels below $0.18, presenting a substantial risk for holders. \u201cA failure to hold support around $0.30 could see the price retesting to below $0.18,\u201d Melika warns.<\/p>\n

Related Reading: Cardano Bullish Pattern Suggests A Breakout \u2013 Can ADA Reach $0.54?<\/a><\/div>\n

ADA Price Analysis: Short-Term Outlook<\/h2>\n

In the immediate term, ADA is navigating a strong support zone identified between $0.33 and $0.34, aligned with a lower trendline that underscores its importance. \u201cA bounce from this support zone could see ADA targeting the resistance zone at $0.38 – $0.39. The engulfed area suggests a possible reversal signal,\u201d the crypto analyst claims.<\/p>\n

\"Cardano
Cardano\/TetherUS, 4-hour chart | Source: TradingView.com<\/figcaption><\/figure>\n

This resistance zone at $0.39 represents a critical point where previous sellers have previously dominated, making it a pivotal area for ADA\u2019s short-term price action. A successful breach of this resistance could validate the bullish rebound scenario<\/a>. \u201cThe $0.39 zone is a significant resistance where sellers previously controlled the market, making it a critical area to watch for any breakout,\u201d Melika states.<\/p>\n

Conversely, if ADA fails to sustain its current support, the price could retreat towards the broader long-term support at $0.30, underpinning the downside risks highlighted by Melika.<\/p>\n

At press time, ADA traded at $0.3437.<\/p>\n

\"Cardano
ADA price needs to overcome the 0.236 Fib, 1-day chart | Source: ADAUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In an analysis published on TradingView, pseudonymous crypto analyst Melika Trader has provided a technical forecast for Cardano (ADA), highlighting a long-term upside scenario with a price target of $1.8. Using chart patterns and key price levels, Melika offers both short and long-term perspectives on ADA’s price movement. Long-Term Cardano Price Outlook Melika identifies a significant support zone for ADA between $0.30 and $0.35. This range has historically shown strong buying interest, characterized by an engulfing candle pattern and previously established supply and demand (S&D) zones. This base formation suggests a robust floor where Cardano has consistently garnered market support. The analyst points out the potential for a bullish reversal, noting that ADA\u2019s price action appears to be forming a bottom within this support zone. \u201cThe price seems to form a bottom after engulfing the support region, hinting at a potential bullish reversal,\u201d Melika states. Looking ahead, Melika sets a long-term resistance target between $1.20 and $1.80. This target area is not arbitrary but is based on previous price peaks, making it a significant hurdle for future price action. Should ADA maintain its support base, the path to these higher resistance levels may be realized as buyer confidence rejuvenates, setting the stage for a potential bull run. Related Reading: Cardano\u2019s Pullback Short-Lived, Fresh Rally Underway For ADA? \u201cThe next major resistance is in the $1.20-$1.80 zone, marked as a long-term target, which aligns with previous highs. If the current support holds, ADA could be positioned for a sustained rally toward the long-term target, especially as buyers regain confidence,\u201d Melika writes. However, she also cautions investors about a bearish scenario where ADA fails to maintain the $0.30 support level. A breach below this threshold could lead to a decline to levels below $0.18, presenting a substantial risk for holders. \u201cA failure to hold support around $0.30 could see the price retesting to below $0.18,\u201d Melika warns. Related Reading: Cardano Bullish Pattern Suggests A Breakout \u2013 Can ADA Reach $0.54? ADA Price Analysis: Short-Term Outlook In the immediate term, ADA is navigating a strong support zone identified between $0.33 and $0.34, aligned with a lower trendline that underscores its importance. \u201cA bounce from this support zone could see ADA targeting the resistance zone at $0.38 – $0.39. The engulfed area suggests a possible reversal signal,\u201d the crypto analyst claims. This resistance zone at $0.39 represents a critical point where previous sellers have previously dominated, making it a pivotal area for ADA\u2019s short-term price action. A successful breach of this resistance could validate the bullish rebound scenario. \u201cThe $0.39 zone is a significant resistance where sellers previously controlled the market, making it a critical area to watch for any breakout,\u201d Melika states. Conversely, if ADA fails to sustain its current support, the price could retreat towards the broader long-term support at $0.30, underpinning the downside risks highlighted by Melika. At press time, ADA traded at $0.3437. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":642597,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,84005,12332,89230,12329,16230],"class_list":["post-649825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-cardano","tag-cardano-news","tag-cardano-price","tag-cardano-price-prediction"],"acf":[],"yoast_head":"\nCardano Price Set To Skyrocket By 430%, Crypto Analyst Predicts<\/title>\n<meta name=\"description\" content=\"In an analysis published on TradingView, pseudonymous crypto analyst Melika Trader has provided a technical forecast for Cardano (ADA), highlighting a\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Price Set To Skyrocket By 430%, Crypto Analyst Predicts","url":"http:\/\/uniquehot.com\/news\/cardano\/cardano-price-skyrocket-430-crypto-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano\/cardano-price-skyrocket-430-crypto-analyst\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Cardano-ADA-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Cardano-ADA-1.jpeg?fit=1792%2C1024"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","cardano","cardano news","cardano price","cardano price prediction"],"dateCreated":"2024-10-25T23:30:57Z","datePublished":"2024-10-25T23:30:57Z","dateModified":"2024-10-25T23:30:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Price Set To Skyrocket By 430%, Crypto Analyst Predicts\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-price-skyrocket-430-crypto-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-price-skyrocket-430-crypto-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Cardano-ADA-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Cardano-ADA-1.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"cardano\",\"cardano news\",\"cardano price\",\"cardano price prediction\"],\"dateCreated\":\"2024-10-25T23:30:57Z\",\"datePublished\":\"2024-10-25T23:30:57Z\",\"dateModified\":\"2024-10-25T23:30:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Cardano-ADA-1.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/649825"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=649825"}],"version-history":[{"count":3,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/649825\/revisions"}],"predecessor-version":[{"id":649839,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/649825\/revisions\/649839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/642597"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=649825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=649825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=649825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}