Cardano Price Rebound: ADA Eyes 60% Gains

ADA is under significant selling pressure, as it has been in a downtrend over the past three trading sessions when altcoins were in the red. Despite this, analysts are confident that digital assets will recover significantly; According to technical analysis and fundamentals, the coin could rise by 60%.

Cardano’s price reached $0.90, the lowest level since January 1, and is down 33 percent from its 2024 high. The downtrend has continued for some time, accompanied by whales dumping large amounts of ADA.

Bitcoin’s strength could push Cardano to new heights

Cryptoanalyzer on X He describes more bad news: Whales are dumping more than 70 million ADA tokens, equivalent to about $63 million, putting more pressure on the downside. However, the following factors could drive the market in the following months:

Whales sold more than 70 million #Cardano $ada During the last 48 hours! pic.twitter.com/dJWRG4shhN

– Ali (@ali_charts) January 8, 2025

Bitcoin Market Strength:

Here’s how the flagship cryptocurrency stands: It has QR code, ETF buy portfolio, declining exchange balances, and bullish flag formation patterns. Further BTC recovery could take many popular altcoins like Cardano to new heights.

Upcoming ecosystem upgrades:

Cardano developers are planning major updates that could boost the platform’s utility and trading volume. Some of them are a partnership with BitcoinOS, which is supposed to unlock more than $1.4 trillion in locked value, and the release of a scaling solution called Midnight.

Potential regulatory winds:

Expectations are that the new Donald Trump administration will favor cryptocurrencies, which could mean approval of the ADA Spot ETF. This would bring institutional capital into Cardano, thus increasing demand.

Other evidence based on technical analysis also supports the context of a strong price recovery. By analyzing the daily chart of Cardano, it is possible to conclude that the long vertical phase was followed by the building of a consolidation phase, which looks like a bullish flag. This formation usually occurs before a big jump Cryptocurrency And stocks.

The break-retest model also shows a positive sign. ADA was able to retest the top of the cup and handle pattern, which is a popular bullish continuation pattern on this chart.

Fundamentals based on the Fibonacci retracement suggest that in a few weeks, Cardano may see its value rise to $1.41 in relation to the 61.8% Fibonacci extension tool. This would raise spending in this area from current levels to 60 percent more.

Although Cardano It has recently caused turmoil among investors, and technical fundamentals and charts support a return to growth in early 2025. In this case, ADA could regain investor confidence and record significant growth during the first quarter of the year.

The focus remains on Bitcoin Price fluctuations and possible regulatory changes in the future, which will undoubtedly affect Cardano’s future performance.