Cardano Price Forecast: Will ADA Break $1 and Aim for $3.60 Next?
bullish momentum building, the $1.00 resistance level may finally give way. The technical setup is favorable, with ADA holding strong above $0.92 and buyers eyeing a breakout towards $1.00.
Whale accumulation of over 180 million ADA in just two days indicates growing demand and reduced supply in the market, setting the stage for a potential price expansion. Historically, such buying pressure has preceded significant rallies for ADA, suggesting that retail traders may follow suit as whales absorb liquidity.
In terms of technical analysis, Cardano’s 4-hour chart shows a reentry into a key triangle pattern, with analysts targeting the $0.92 to $0.96 zone as the final hurdle before a potential move towards $1.00. Securing candle closes within this pattern would confirm a shift in momentum favoring buyers and set the stage for a broader recovery.
Looking ahead, a breakout above the long-term descending trendline could propel ADA towards the $3.00 to $3.40 range, according to analyst Anup Dhungana. With volume expanding and RSI momentum leaning bullish, a decisive close above $1.00 could validate the broader bullish structure and signal a more extended rally for Cardano.
Overall, the confluence of factors such as whale accumulation, bullish momentum, and technical patterns points towards a potential breakout for Cardano. If ADA can overcome the $1.00 barrier, it opens the door to further upside towards the $3.00 to $3.40 levels, marking a significant milestone in its price trajectory. Investors will be closely watching ADA’s price action in the coming days as the cryptocurrency aims to finally break through the elusive $1.00 mark and target higher price levels in the near future.
