Cardano has caught the crypto community’s attention, with widely followed analysts highlighting its various bullish setups.
In a tweet today, market watcher Crypto Rand described ADA’s 3-day price action as “one of the best-looking charts out there.” He pointed to its technical setup as a sign of strength amid the broader bull market.
Cardano “Best-Looking Chart”
Notably, the chart shared by Crypto Rand underlines ADA’s sharp rally in late 2024, forming a robust flagpole. This movement was followed by a symmetrical triangle pattern, representing consolidation after the major price run.
This structure is a bullish pennant. It serves as a continuation signal, illustrating how bullish sentiment is progressively dominating over selling pressure. Essentially, the pattern suggests that ADA could resume its upward trajectory upon breaking out of the pattern.
Today, Cardano posted a 6.8% gain, rallying from $1.03 to $1.10. Cardano is now trading near a critical resistance level of around $1.20, attempting to reclaim it.
If the pennant resolves to the upside, Crypto Rand’s chart suggests ADA could target significantly higher price levels, potentially challenging the $2 mark or beyond.
Other Analysts Seeing Strong Momentum on ADA’s Chart
Meanwhile, Crypto Rand is not the only market watcher who sees promising setups in Cardano’s candlestick patterns.
In a separate commentary, analyst Aboozar shared a chart captioned “ADA Soon,” highlighting an impending bullish trajectory for the asset. The chart displayed a massive cup-and-handle pattern, a bullish formation.
It showed that following a long accumulation phase over several months, ADA has completed its rounded base. It is currently forming a tight consolidation handle just above a key resistance-turned-support zone in the $0.80 to $1.00 range.
Essentially, this chart suggests ADA could be on the verge of a significant breakout. Aboozar’s projection includes a breakout to higher levels, with an upward arrow aiming toward the $3 mark. This optimistic target suggests that Cardano could soon reclaim its 2021 all-time high.
$ADA soon 🤝 pic.twitter.com/OtYNofjIDr
— Aboozar (@Aboozar_trader) January 15, 2025
Likewise, analyst Altcoin Sherpa also contributed to the bullish sentiment surrounding Cardano with a tweet highlighting its historical resilience and future potential.
He pointed out that Cardano is one coin that almost reached its previous ADA/BTC highs from the 2017-2018 cycle during the 2021 rally. Accordingly, Sherpa emphasized that the ADA chart looks strong.
He believes the upward momentum will likely continue as long as the broader market trend remains positive.