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HomeCrypto NewsMarketTop Analyst Predicts Cardano May Revisit All-Time High Quickly

Top Analyst Predicts Cardano May Revisit All-Time High Quickly

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Crypto Analyst touts Cardano to go vertical and revisit its 2021 all-time high. Will Cardano reach $3 and beyond in this bull run?

In a post shared by Angry Crypto Show on X, prominent analyst and trader Ivan on Tech believes Cardano (ADA) could break out sharply and return to its all-time high. He stated that Cardano could suddenly trade vertically, potentially revisiting its peak of $3.09, reached in September 2021.

At press time, ADA trades at $0.84693, a 2.0% increase in the last 24 hours. It has gained 51.5% over the past month and narrowed its weekly loss to 3.2%. Despite this recovery, ADA remains 72.59% below its all-time high.

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Earlier Predictions on Cardano Revisiting Its All-time High Never Click!

Several crypto analysts had previously hinted at Cardano reaching the previous all-time high. Last year, Dan Gambardello said Cardano could break its all-time high within 30 to 60 days, citing past cycle patterns and recent tech upgrades. However, this did not materialize. 

Earlier this year, analyst Michaël van de Poppe also noted bullish momentum for ADA, saying market sentiment could shift as conditions improve. Earlier this month, Michaël went super bullish on Cardano’s price action, noting the token will reach $10.

Meanwhile, crypto influencer Becker also added that Ethereum’s strength may lift other altcoins. He listed ADA, along with XRP, DOGE, SUI, AVAX, and SOL, as coins likely to benefit. 

Cardano’s Current Price Prediction

Data from TradingView reveals Cardano is showing strong bullish momentum, with the majority of its moving averages across short to long-term periods flashing buy signals. 

While most oscillators, including the RSI and Stochastic, remain neutral, the Momentum indicator points to a possible short-term upward push, even as the MACD suggests mild selling pressure. 

ADA is currently trading above its pivot point of $0.60, with resistance levels extending up to $1.04, indicating room for further gains.

Meanwhile, Crypto analyst Hardy highlighted Cardano’s eight-year streak of zero downtime or hacks, calling it a network built to last. With ADA securing a weekly close above the key $0.74 level, he signaled a bullish outlook and identified $1.13 as the next target. 

Analysts Bullish on Cardano’s Long-term Potential 

Further, a weekly chart shared by Mintern noted that Cardano appears to be following a recurring bullish pattern. The chart highlights three descending wedge formations, each followed by a breakout and a strong price rally.

Cardano 1W Chart
Cardano 1W Chart

ADA recently broke out of a similar wedge pattern after bouncing off long-term trendline support near $0.7485 and $0.5298. The setup suggests Cardano could be preparing for another upward move, potentially retesting its all-time high of $3.09 if the trend continues. Mintern suggests Cardano could reach $11 during this cycle.

Meanwhile, another analyst, Tyler Burke, predicts ADA will reach $11 to $12 by 2026. In a chart shared on X, a parabolic rise following years of accumulation and sideways movement suggests that ADA could be gearing up for a major breakout in the next market cycle that could see a 10x uptick in the token’s price.

Cardano 1D Chart
Cardano 1D Chart

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.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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