Crypto Analyst Predicts ‘Massive’ Cardano (ADA) Price Comeback – Here’s When

A popular crypto analyst is predicting a ‘massive’ price recovery for Cardano (ADA) in the coming months.

The recent market crash saw ADA’s price plummet by over 15%, but the altcoin is now recovering alongside other top altcoins. ADA’s price is currently trading around $0.95 after surging by 6% today.

Now, one crypto analyst is predicting a ‘massive’ price recovery for ADA. In a recent video update for his 12k subscribers on YouTube, Nick Regan shares his analysis on what to expect for Cardano’s price trajectory.

According to Regan, ADA is currently testing crucial support levels between $0.78 and $0.81, which he identifies as a potential accumulation zone for long-term investors. While temporary dips below these levels are possible, Regan suggests these movements might be aimed at clearing out short-term traders.

The analysis also takes into account Elliott Wave patterns, with ADA currently in Wave 2 of a five-wave structure. Regan anticipates that Wave 3 will propel prices significantly higher, potentially reaching $1.60 or more, with key price movements forming around Fibonacci levels.

Recent market data shows ADA experienced a precise 15.54% decline, with current price action testing the 200-day EMA. Regan identifies the current market structure as a three-wave corrective pattern, which usually precedes stronger price movements. He suggests that current market movements may be a part of deliberate price manipulation to shake out less experienced traders, often referred to as “weak hands,” before any significant upward trend can begin.

Regan also highlights some key resistance levels and anticipates a potential stop-loss hunt, which could see ADA’s price briefly dipping to lower support levels before bouncing back up.

According to the analyst, we can expect to see significant upward momentum after January 20, with Wave 3 potentially concluding by March. He emphasizes the importance of patience rather than expecting immediate price surges. Regan’s long-term projection suggests a potential target of $2.27 by the end of March, based on Elliott Wave analysis and broader market conditions.

Some mixed signals are also evident from current market indicators. While the RSI shows no significant divergences, the MACD histogram indicates decreasing buying pressure, which could lead to near-term fluctuations. Resistance levels between $0.96 and $0.98 could present challenges unless substantial buying pressure emerges.

For risk management, Regan suggests considering stop-loss levels below $0.86 during volatile periods. He notes that the market might experience quick price movements to lower levels around $0.78-$0.81 before any significant upward trend begins.