The analyst identifies a new move towards an all-time high

One analyst highlights that Cardano (ADA) is poised for an upward trajectory in 2025 after a strong rebound in late 2024. Could this lead to a new all-time high?

like Bitcoin price If it crosses the $95,000 level, the cryptocurrency market will reach a value of $3.36 trillion. As the market leader returns to the rise, Cardano He is also on the recovery track.

After a jump of 8.69% over the past 24 hours, ADA crossed the $0.90 threshold. With its market capitalization approaching $33 billion, the ninth-largest cryptocurrency is poised to soar in 2025.

The analyst highlights the best price to buy Cardano

Recently tweet To support the uptrend in ADA price, Michael van de Poppe has identified a bullish opportunity. While he noted that broader market sentiment remains largely unchanged, he believes it is likely to improve.

After the price jumped from $0.326 to a 52-week high of $1.327, ADA’s uptrend has moved into a bearish phase. This pullback, which represents a roughly 40% decline, is now showing signs of downward exhaustion.

“I think we are nearing the end of this correction, and I expect a new push for assets like ADA.” chirp.

Cardano’s price decline indicates a potential bullish return. In his latest analysis, Van de Poppe notes that the optimal entry point for ADA is located near the $0.7460 mark.

However, this depends on the market correcting further over a longer period. The recovery is already underway, with critical price levels at $0.9850 and $0.7460.

Michael predicts a new all-time high for ADA

Despite a 307% bullish rebound in late 2024 – an astronomical rally for Cardano – ADA price gave a total return of 42% for 2024.

The previous upward high represents the first wave of the ADA’s upward movement, followed by the correction phase (second wave). According to Elliott Wave Theory, the third and fifth waves usually lead to large upward movements. Michael believes that such huge moves could lift Cardano to a new all-time high in 2025 or 2026.

Therefore, the current pullback provides long-term traders with one of the best entry opportunities. Meanwhile, short-term traders may see the bounce push ADA to the $1.2430 resistance level before entering a sideways range.