An analyst on TradingView anticipates a new Cardano (ADA) bull run, identifying a repeating pattern that previously triggered the December 2024 rally.
Cardano has shown renewed strength amid a recovering crypto market, trading between $0.54 and $0.60 over the past week. After hitting a swing low of $0.54 on July 1, ADA rebounded to **$0.6045, marking an 8.89% daily increase and a 6.23% weekly gain**.
Key Highlights from the Analysis
Arman Shaban’s Smart Money Concepts analysis reveals a complete market cycle on ADA’s 3-day chart, emphasizing historical and current order blocks:
Historical Order Blocks
- A bearish order block formed after ADA peaked at $0.79** in March 2024, causing a decline to **$0.27 by August 2024.
- The same demand zone later acted as a launchpad in November 2024, propelling ADA to $1.32 by December before facing resistance.
Current Price Action
- ADA is now targeting the same bearish order block ($0.58–$0.62).
- Shaban predicts a short-term push toward $0.61** and **$0.76, with long-term targets at $0.93, $1.05, and $1.33—a potential 121.67% surge from current levels.
👉 Discover how Cardano’s network growth supports this bullish outlook
Cardano Network Activity Signals Strength
Data from IntoTheBlock reinforces bullish momentum:
- Daily Active Addresses (DAA): 11.99% increase in 7 days.
- New Addresses: 4.79% growth, indicating fresh adoption.
- Zero-Balance Addresses: 12.26% rise, suggesting re-engagement by dormant holders.
These metrics reflect organic network expansion rather than short-term speculation.
Cardano Price Prediction FAQs
1. What is driving Cardano’s potential bull run?
A repeating market structure and renewed demand at key order blocks suggest upward momentum, similar to late 2024.
2. What are the short-term ADA price targets?
Analysts project $0.61** and **$0.76 as near-term resistance levels.
3. Could ADA realistically reach $1.33?
If historical patterns repeat, ADA may surge 121.67% to $1.33, aligning with the previous bearish order block.
👉 Explore more crypto market insights
Conclusion
Shaban’s analysis, combined with strong network activity, paints an optimistic picture for Cardano. While past performance doesn’t guarantee results, the convergence of technical and on-chain metrics suggests a potential rally.
Disclaimer: This content is for informational purposes only and not financial advice. Conduct independent research before investing.
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