Analysts predict Cardano (ADA) could be poised for a big price jump with its analysts forecasting a 40% surge. The way in which Cardano’s price is at present moving is what makes this an exciting possibility. Cardano is in a pattern at the moment called a ‘symmetrical triangle’, what it means is that its price is narrowing between two points. It generally means that a big price move is coming but it’s not clear if it will be up or down.
Experts, including analyst Ali Martinez, have pointed out that Cardano’s price is bouncing between two key points: resistance at $1.02 and support at $0.94. Why is it important? These levels are significant because they show what levels Cardano has been holding on to for quite some time now. If prices get squeezed into such a tight range, the next big move could be anywhere.
And, if it does break the next level at $1.02, we might even see it go as high as $1.35, a 40% jump. But if the price drops below $0.94, it could go all the way down to $0.71. Analysts are paying close attention to any hint of what Cardano may do.
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#Cardano $ADA consolidates, awaiting a 40% price move as it forms a symmetrical triangle! pic.twitter.com/soH39INFnq
— Ali (@ali_charts) January 25, 2025
Cardano’s recent price activity, or whale activity, has also been affected by big investors moving their coins. The price of ADA, however, saw a great deal of movement between December 2024 and January 2025. This can be seen in January when large investors, or ‘whales,’ began to buy more Cardano, which sent its price from around $0.85 up to over $1.10. However, after those whales began selling again, the price fell back down.
As per data, The other side of uncertainty is a decline in trading activity on Cardano’s derivatives market, where investors take positions aiming for future prices. This implies that lots of dealers are looking for more lucidity before putting huge moves.
Now, Cardano is in every investor’s eye as they wait for it to break out from this symmetrical triangle. If the price breaks above $1.02 and keeps rising, we could see about 40% growth, if it drops lower than $0.94, however, things will start to get very bearish.
In the next few weeks, the direction Cardano’s price goes in could be one of the most big moves in the crypto space.
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