Pundit Suggests Cardano has Bottomed in “Big Rally” to New Highs Prediction

A recent price resurgence has sparked speculations that Cardano has bottomed and would only see higher prices from its current level.

Cardano (ADA) rallied the most among the top 10 cryptocurrencies by market cap over the past 24 hours, rising 14% to trade at $0.445. The move has left analysts closely monitoring its subsequent price action, even as broader market conditions brighten again.

Downtrend Days Are Over

Among those enthusiastic about Cardano’s resurgence is crypto educator Global Rashid. In a recent Cardano price prediction, he suggested that ADA has bottomed and it may be up only from here for the 10th-largest cryptocurrency by market cap.

His accompanying chart shows he believes ADA’s recent dip to a key level of $0.37 marks its lowest price. The price level aligned with a long-standing ascending trendline on the weekly chart, where the coin has typically bounced in the past.

Specifically, the chart shows Cardano rebounded from this support trendline in September 2023, growing from $0.23 to $0.81. It also rallied from $0.35 in August 2024 to a high of $1.32 in December 2024.

Notably, he expects the cryptocurrency to continue in its recent momentum to much greater heights. 

Big Rally Ahead for Cardano

He also pointed to a bullish price pattern backing his sentiment and possible targets if it plays out fully. The analyst highlighted ADA’s trend within a descending channel for the past 12 months. The wedge formed from its December high of $1.32, and ADA has since consolidated with the downward-facing structure.

With its recent rebound from the structure’s lower support line, Rashid predicts further upside to retest its resistance neckline. This region lies around the $0.80 price level, representing a 79.7% increase from the current trading level.

However, this is low compared to the “big rally” the pundit is projecting for Cardano. Specifically, he expects a breakout from the multi-month channel to higher levels, with his chart showing some possible targets.

First, he predicts a 221% price surge to $1.43, followed by a 320% increase to $1.87. Subsequently, he projected rallies to $2.36 and $2.78 before capping off the uptrend with a retest of its 2021 all-time high of $3.10. From here, this culminates in a growth of 430%, 524%, and 596%, respectively.

Meanwhile, Rashid is not alone in his $3 prediction for Cardano. OceanStaker predicts the same outcome for Cardano, tapping the Power of Three (PO3) price pattern to take the asset to this target. Dan Gambardello also shares the $3 target for ADA, remaining unmoved even in the time of negative price trends.