Cardano (ADA) Price Prediction: Popular Analyst Reveals Potentially Optimistic News

Popular cryptocurrency analyst Ali Martinez has revealed potentially optimistic news in the Cardano (ADA) ecosystem.

According to his latest technical reading, the token is currently cruising within a symmetrical descending channel in the three-day range. While the pattern typically signifies a bearish trajectory for the digital asset, it could bring about a dramatic surge in Cardano's price if it manages to breach the resistance level it holds at $0.74. Once it breaks out from that boundary, it could pave the way for the token's rise to $0.88.

Cardano's Major Recovery

In April, Cardano considerably recovered from a $0.51 dip after exhausting all its momentum in December when it achieved a two-year high of $1.31. In the last 24 hours heading to Tuesday morning, it continued its push toward a $0.72 top. This represented around a 41% spike between the said periods.

If the token realizes Martinez's prediction, it could signal a 22% rally from this month's top. Barring any negative news impacting the broader crypto sector, a sustained climb could take ADA back to a dollar.

However, the numbers remain far from Cardano's all-time high of $3.10 four years ago.

Golden Cross Surfaces

The latest developments coincide with the emergence of a golden cross on Cardano's 4-hour chart last week. Along the way, the token's 50-day moving average (MA) intersected with the 200-day MA within the range.

This came following a death cross, showing the opposite trend, in mid-March during the heightened uncertainty in the market amid the USA's tariff wars with various nations, particularly with China.

Cardano Community Sentiment

The events also coincide with ADA's rise in Community Sentiment based on CoinMarketCap data. According to Charles Hoskinson, Cardano's founder, the aggregator has officially removed the bots from its rankings to reflect only real and organic support.

As a result, the token has led the rankings among the top 10 cryptos by market cap after the update. After all, as one commenter has pointed out, Cardano was the original case study in building an ecosystem from the roots up, with key consideration to community support.