An analyst highlights that Cardano (ADA) is gearing up for a bullish run in 2025 after a strong recovery in late 2024. Could this lead to a new all-time high?
As Bitcoin’s price breaks above the $95,000 mark, the crypto market reaches a valuation of $3.36 trillion. With the market leader making a bullish comeback, Cardano is also on a recovery track.
After an 8.69% jump in the past 24 hours, ADA has crossed above the $0.90 threshold. Nearing a market cap of $33 billion, the ninth-largest cryptocurrency is preparing for the 2025 bull run.
Analyst Highlights The Best Price to Buy Cardano
In a recent tweet supporting the bullish trend in ADA’s price, Michaël van de Poppe identified a bullish opportunity. While noting that the broader market sentiment remains largely unchanged, he believes it is likely to improve.
After a price jump from $0.326 to a 52-week high of $1.327, ADA’s bull run transitioned into a pullback phase. This pullback, accounting for nearly a 40% drop, is now showing signs of bearish exhaustion.
“I think we are getting towards the end of this correction, and I expect a new leg up for assets like ADA,” he tweeted.
Lower price rejections in Cardano’s price suggest a potential bullish comeback. In his latest analysis, van de Poppe points out that the most optimal entry point for ADA lies near the $0.7460 mark.
However, this is contingent on the market correcting further over a longer period. The recovery is already underway, with critical price levels at $0.9850 and $0.7460.
Michaël Expects a New All-Time High for ADA
Despite a 307% bullish recovery in late 2024—an astronomical rise for Cardano—the ADA price gave an overall return of 42% for 2024.
The previous bullish spike marked the first wave of upward movement for ADA, followed by a correction phase (the second wave). According to Elliott’s Wave Theory, the third and fifth waves typically lead to significant upward movements. Michaël believes such massive moves could bring Cardano to a new all-time high in 2025 or 2026.
Therefore, the current pullback offers long-term traders one of the best entry opportunities. Meanwhile, short-term traders might see the bounce back pushing ADA to $1.2430 resistance before entering a sideways range.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
