- ADA holds support at $1.00, with $1.15 and $1.20 as short term targets, indicating strong bullish sentiment above key levels.
- Analysts predict ADA could hit $2.77 medium term, with a potential parabolic rally reaching $7.83 in an extended bullish cycle.
- Breakout above $1.00 mirrors historical patterns, with potential for sharp gains; analysts foresee a surge to $4 within weeks.
At the time of publication on January 4, 2025, Cardano (ADA) was trading at $1.09, a 5% increase in 24 hours.
Crypto analysts, Javon Marks and Ali Martinez, noted ADA’s potential price movements. ADA’s recent movements, technical indicators, and market outlook show a mix of bullish momentum and cautionary signs.
Price and Indicators
Cardano’s price has seen a slight retracement, dropping by 0.85% in the last 4 hours while maintaining an upward trend. The recent rally pushed the price near the upper Bollinger Band, which suggests overbought levels.
The middle Bollinger Band, a 20 period moving average, offers dynamic support at $0.97, with the lower band at $0.80 providing broader support.The RSI is at 76.75, surpassing the overbought level of 70.
This high RSI value suggests potential profit taking or consolidation as the market assesses the overextension. However, the price’s ability to stay above $1.00 emphasizes the current bullish sentiment.
Support and Resistance Levels
The breakout above $1.00 established this level as an important support zone. Below that, $0.98 offers additional support, boosted by the middle Bollinger Band.
On the resistance side, $1.15 remains a short term target, with $1.20 is the barrier if buying momentum persists. According to Javon Marks, ADA’s sustained upward movement could test these resistance zones.
$ADA (Cardano) recovers much of its recent pullback in a significantly positive candle here and could be continuation ready which can lead to the target at $2.7709!
— JAVON⚡️MARKS (@JavonTM1) January 3, 2025
This could consist of another +150% upside but history says that those levels may only be the start, with $7.8… https://t.co/bD0drVW2gN pic.twitter.com/D7iVpRQ02c
Longer term projections show resistance levels at $2.73, $5.29, and $7.83, aligning with Fibonacci retracement zones and historical highs. Analysts note that surpassing $2.73 would require substantial buying pressure.
Future Trends and Analyst Predictions
According to Javon Marks, ADA’s current recovery phase similars past patterns, with potential to reach $2.77 in the medium term. He emphasizes that historical trends could lead to a parabolic rally, potentially gaining by 618% and pushing the price near $7.83 in an extended bullish cycle.
#Cardano $ADA is shaping up like it did last cycle, making me think a big move is near. A push to $4 might happen within a few weeks!
— Ali (@ali_charts) January 2, 2025
You don't even have to risk your own capital. Go to @SimpleFXcom via my link https://t.co/GLjkpQvfTT and claim the $5,000 bonus. Thank me later! pic.twitter.com/4XgFpFurlI
Ali offers a shorter term perspective, predicting a potential surge to $4 within weeks, supported by ADA’s breakout from a prolonged accumulation phase. He notes that the price’s current behavior resembles previous cycles, where prolonged consolidation preceded sharp upward movements.
