Cardano (ADA) Price Prediction: ADA Primed for a Bull Market as it Breaks Above the Downward Trendline

Cardano (ADA) price has surged by 26% over the past few days, capturing significant market attention. The token has broken decisively above the declining trendline established in December 2024.

In just the last 24 hours, the Cardano price recorded a 7.12% price gain, further strengthening its bullish trajectory. Currently trading at $1.12, the token has crossed the crucial $1 resistance level, signaling robust upward momentum.

As noted by renowned trader Peter Brandt, who boasts 5 decades of market experience, the charts are suggesting that ADA crypto could be gearing up for a large-scale bull market.

Adding to this optimism, numerous analysts have highlighted the Cardano price bullish chart, sparking widespread enthusiasm across the crypto community.

Analysts now expect mid-term price objectives of $1.20, $1.50, and potentially $2.00 as the ADA crypto’s rising trend continues. Moreover, ADA crypto’s excitement was further amplified by anticipating pro-crypto policies under Donald Trump.

Market participants are speculating that these policies could reignite an altcoin rally, boosting Cardano price and other cryptocurrencies as investors align with the shifting political landscape.

The altcoin rally hype intensified after recent remarks by Peter Brandt about the Cardano price. The veteran trader expressed a notably optimistic view of ADA’s price chart in a post on X.

He stated that the asset has bottomed and is now poised for a grand bull market. Brandt’s bold assertion has fueled speculation that the Cardano price could reach significantly higher levels.

Similarly, renowned trader Altcoin Sherpa joined the conversation, highlighting recent trends that indicate optimism for a potential breakout. He pointed to strong technical indicators and other factors driving the momentum.

Sherpa also described Cardano crypto as a “DINO.” That’s because it is an established crypto that has endured the test of time and remains a solid market contender.

Adding to the enthusiasm, another popular analyst, Crypto Rand, praised Cardano’s price chart, calling it one of the strongest in today’s market.

Furthermore, the analyst predicted that ADA crypto could soon break through its next resistance at $1.50 and has the potential to hit the $2.00 benchmark.

Meanwhile, Rose Premium Signals, a crypto analysis group, highlighted critical levels for Cardano at $1.20, $1.50, and $2.00. They identified $1 as a key long-term support level that could solidify the Cardano price foundation for further growth.

Experts attributed the Cardano price’s promising outlook to sustained market demand and robust technical fundamentals. With these factors in play, most analysts strongly believe that ADA crypto’s bullish trend should be strengthened more.

The Cardano price’s bullish momentum has gathered steam per its chart, which is confirmed by several technical indicators and increased activity from large holders.

A key signal of this strength is the bullish crossover on the MACD, underscoring growing buyer momentum.

Alongside this, the histograms on both the MACD and AO tools are expanding, further signaling an upward trend in market sentiment.

Moreover, the Chaikin Money Flow, also called CMF, is rising, indicating an inflow of capital into ADA. This upward movement suggests increased investor interest, reinforcing the overall bullish outlook.

The RSI has also climbed, currently nearing the overbought territory at 61.61. This uptick reflected a surge in demand for ADA crypto and aligned with the overall positive sentiment surrounding the asset.

Beyond the technical metrics, fundamental factors are adding to the momentum. Notably, whale activity has seen a significant uptick. The data from Santiment highlighted a remarkable surge in large transactions over the past 48 hours.

During this period, whales accumulated an additional 30 million ADA tokens. This increased activity among major holders often serves as a reliable indicator of bullish trends. It suggested that these influential market players are positioning themselves for further growth in Cardano’s value.

As the technical indicators align and institutional-level accumulation is on the rise, the Cardano price appears well-poised to continue its upward trajectory soon.

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.