In today’s Cardano update, Weslad predicts ADA could target a key supply zone around $1.95 after bouncing back from an accumulation area near $0.355. Earlier, Weslad suggested that ADA might see some price consolidation after struggling to stay above the $0.611 mark following a breakout from a falling wedge on the 2-week chart.
He now expects a slight correction, with ADA potentially dipping to the demand zone at $0.59. However, according to Tradingview data, ADA couldn’t maintain its support at $0.59 after a broad market downturn pushed it below that level. It even dipped past the next support at $0.40 before stabilizing in a critical accumulation zone around $0.355.
According to Weslad, Cardano managed to hold steady in this $0.355 zone, which was in line with his predictions. He anticipated a strong rally from this accumulation point, and so far, things are unfolding as expected.
Cardano (ADA) eyes massive surge
Cardano (ADA) has shown solid growth after holding steady at the $0.355 mark, jumping over 11% to reach $0.399. Weslad predicts this upward trend could continue, potentially pushing ADA’s price to $1.95, where it might face strong resistance. With bulls appearing to take control of the market, Weslad anticipates ADA’s price could rise to $1.95, marking an impressive 487% increase from its current value.
Notably, Weslad expects that ADA’s price will consolidate in two significant areas before it reaches the supply zone. Based on his chart, he predicts the consolidation to happen around the $0.60 and $0.70 marks, where the price previously encountered resistance earlier this year. If Cardano (ADA) keeps its upward momentum and breaks past this level, experts believe the next target could be between $1 and $1.2.
For reference, Cardano hit this range during the 2018 bull run. Additionally, it’s worth noting that Weslad is one of several analysts who predict ADA could see a massive surge during the next bull run. Another crypto analyst, Dan Gambardello, has an even bolder prediction, suggesting Cardano could soar by 1,000% to reach $3.553.
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