Analyst Forecasts Cardano Price Could Hit $1.40 After Consolidation

Cardano (ADA), a leading proof-of-stake cryptocurrency, has been undergoing a consolidation phase over the last two months. Market analysts are optimistic about ADA’s price potential, highlighting a possible 40% increase to $1.40 by March 2025. This prediction is based on the symmetrical triangle pattern on ADA price charts, suggesting a breakout and crypto rally.

Will Cardano Price Surge 40%? Analysts Predict $1.40 Price Target

Analyst Ali Martinez recently analyzed Cardano price movements and shared insights via social media platforms. According to Martinez, the formation of a symmetrical triangle on ADA’s four-hour chart could indicate a strong upward movement. This technical pattern and increasing investor interest suggest a bullish outlook for ADA.

Additionally, Cardano (ADA) has shown strong resilience in past market cycles, breaking through key resistance levels and achieving impressive price surges. Its previous rally beyond $2.77 reinforced optimism among traders and investors. Analysts now point to historical trends as a foundation for future price action, suggesting that ADA could replicate similar breakouts.

Analyst Javon Marks has supported the bullish predictions, recently highlighting key levels from previous cycles. Notably, $1.33 and $2.50 have been identified as crucial resistance zones that could dictate ADA’s next major move. If the price breaks above these levels with strong volume, it could pave the way for a run toward $5 and $7 beyond. 

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Moreover, Cardano network has seen significant enhancements with the introduction of the Plomin hardfork. This upgrade is part of the ongoing efforts to achieve 100% decentralization and improve scalability. Such developments enhance the network’s functionality and boost investor confidence in ADA’s future.

Increased Investor Confidence

The open interest in ADA has witnessed a substantial increase, with $1.31 billion tied up in futures trading. This surge in open interest reflects growing investor confidence in Cardano. The heightened activity indicates that investors are optimistic about Cardano price trajectory heading into 2025, betting on its ability to surpass the $1 price mark amid crypto rally.

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More so, a recent Coingape report highlighted the Cup & Handle formation, pointing to a potential crypto rally. This bullish pattern suggests that Cardano price could break above key resistance levels, setting the stage for further gains. If the breakout is confirmed, analysts anticipate an initial surge to $1.30, with a possible extension toward $1.796.

At press time, ADA is trading at $0.9313, reflecting a 3% decline over the past 24 hours. The market cap has dropped to $32.76 billion, while trading volume sits at $571.8 million.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.