Despite recent correctional price action, analysts still expect a massive bullish push for Cardano to revisit multi-month levels.
Notably, Cardano (ADA) has joined a broader market retracement, deviating from its early-year price action.
Like most major cryptocurrencies, ADA started the year strongly, rallying from its opening price of $0.33 to $0.43 on January 6. Nonetheless, things went sideways from there, with the price dropping 9% to $0.39. Despite this, the token is up 11% in the past seven days.
Good Move on the Horizon
Meanwhile, Crypto Banter’s analyst Sheldon Diedericks, popularly known as “Sheldon the Sniper,” sees a reversal in the price action seen over the past few days, targeting higher levels. In a recent analysis, he stated that a good move is in the works for Cardano.
This bullish bias hinges on a breakout from a descending trendline in the 4-hour chart. Notably, this resistance level has suppressed the asset since a lower high move to $0.73 on October 13, 2025.
Cardano has attempted to break above this trendline but has failed to do so. For context, on October 27, 2025, it reached a high of $0.69, but selling pressure in the region curtailed the bullish momentum. Its recent effort to defy this resistance was a push to $0.43 a few days back, which has sparked its ongoing correction.
Nonetheless, Sheldon sees ADA finally defying this multi-month trendline to greater heights. According to him, a “good move” is incoming for the tenth-largest cryptocurrency by market cap.
Buy Area and Possible Cardano Target
Despite this optimism, he did not rule out the chance of a further correction for Cardano. He expects a pullback and plans to buy between $0.37 and $0.39. Currently, ADA is at $0.39 and would need to retrace another 5% to reach $0.37.
Interestingly, he sees these areas as an early buy for Cardano, as he remains optimistic that altcoins will recover to higher prices. Meanwhile, if this breakout occurs, he sees the token surging to multi-month highs of $0.60 to $0.70. From the current market standing, this represents a 53% to 79% increase.
Resilient Cardano Could Go Higher
Meanwhile, data shows that, despite the recent drop, Cardano is up 18.28% year-to-date, second only to Dogecoin (19.8%) in the top 10 cryptocurrencies by market cap. This resilience amid uncertainties is fueling sentiment that ADA could reach greater heights.
Meanwhile, one of those who still believes that the coin could soar from here is Quantum Ascend, who insists that it is only a matter of time before Cardano reaches new ATHs. Specifically, he predicted a conservative target of $5 and $10.4 in a bullish scenario.
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.
